The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude. “They are now working on ensuring that oil is part of the next sanctions package,” Irish Foreign Minister Simon Coveney said of the European Commission as he arrived for a meeting with his EU counterparts in Luxembourg. “The European Union is spending hundreds of millions of euros on importing oil from Russia, that is certainly contributing to financing this war. We need to cut off that financing … the sooner that can happen the better,” Coveney added. His Dutch and Lithuanian counterparts also said they were open to looking […]