Japan's Prime Minister Kishida Fumio and US President Joe Biden have agreed on a plan to impose a price cap on Russian oil as part of efforts to ramp up pressure on Russia.

The leaders also agreed during a brief meeting on Monday on the sidelines of the G7 summit in Germany that their countries will strengthen their alliance and work together toward a free and open Indo-Pacific region.

They also reaffirmed that Japan and the US will closely cooperate on imposing sanctions on Russia and providing support to Ukraine.

Officials say the cap on Russian oil prices will be discussed in working-level talks between the countries. The measure is aimed at preventing Russia from using oil revenue to fund the invasion of Ukraine.

They also agreed to cooperate toward the success of the economic version of a "two-plus-two" meeting between the foreign and economic ministers of the two countries. Arrangements are underway for the talks to be held at the end of July.