BERLIN, Sept 2 (Reuters) – Finance ministers of the Group of Seven (G7) plan to introduce a price cap for crude oil and petroleum products of Russian origin, they confirmed in a joint statement on Friday.

The initial price cap will be based on the range of technical inputs and the price level will be reviewed if necessary, ministers said.

“We want to bring the implementation in line with the timeline of the relevant measures under the sixth EU sanctions package,” they added.

Reporting by Christian Kraemer, writing…