BRUSSELS (Reuters) -Six European Union countries on Monday called on the European Commission to lower the $60 per barrel price cap put on Russian oil by G7 countries, arguing it would reduce Moscow's revenues to continue the war in Ukraine while not causing a market shock.

The proposal will be reviewed by G7 countries, according to EC spokesperson Olof Gill. Read also: US sanctions drive oil price jump as China and India seek new suppliers "We have received the letter," Gill said during a briefing in Brussels.

European Commission spokesman Olof Gill said on Monday that the G7 countries will consider lowering the price cap on Russian oil. The Northern EU countries—Sweden, Finland, Denmark, Lithuania, Latvia,