The International Energy Agency (IEA) said Tuesday that a proposed oil price cap may help alleviate tensions, yet myriad uncertainties and logistical challenges remain.

Previously, experts have warned that imposing a gas price cap will affect long-term contracts and the security of the EU supply.

The idea of imposing a price cap on Russian crude and oil products was raised by Western leaders at the G7 summit in June. The restrictions on crude oil will go into effect in December, and on oil products next February.