EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being “held hostage by one member state”. The ban on crude imports proposed by the European Commission in early May would be its harshest sanction yet in response to Moscow’s Feb. 24 invasion of Ukraine and includes carve-outs for EU states most dependent on Russian oil. Germany, the European Union’s biggest economy and a major buyer of Russian energy, said it wanted a deal to authorize the oil embargo, which it suggested could last for years. As expected, the ministers failed to reach a deal on Monday, EU foreign policy chief Josep Borrell said after the […]