France is in favor of setting a “maximum oil price” at the level of “producer countries” to counter the price surge caused by the war in Ukraine, said Sunday the French Presidency on the sidelines of the G7 summit in Germany.

Paris is not “opposed in principle” to the U.S. proposal to cap prices, but “what would be much more powerful for us is to put a maximum price on oil that comes from all producer countries,” said the Elysee.

“This is what we need to re-engage in the discussion with Opec+, and with all oil producers in the world,” added the French presidency.

This proposal is distinct from the measure suggested by the United States of a cap on oil prices that would be decided in consumer countries.

This second idea will be discussed by the G7 leaders meeting until Tuesday in southern Germany but several capitals, including Berlin, noted that it was a complex measure to implement.

What we have to do at the G7 is rather to try to have a “price cap” on oil, and in my opinion gas as well, to avoid having too many consequences of sanctions and the global economic situation,” said a source within the French presidency.