G7 leaders have agreed to study placing price caps on imports of Russian oil and gas to try to limit Moscow's ability to fund its military operation in Ukraine, Reuters reported on Tuesday citing G7 officials.

Also, the European Union will explore, along with international partners, ways to curb energy prices, including the feasibility of introducing temporary import price caps, according to a section of the final G7 communique seen by Reuters. 

(With input from Reuters)