The European Union has moved to approve a €90bn (£78bn) financial package for Ukraine after the resumption of Russian oil flows through a key pipeline ended months of political deadlock.

Ukrainian officials confirmed that oil transit had restarted through the Druzhba pipeline into Hungary and Slovakia, clearing a major obstacle that had delayed the funding.

Shortly after the restart, EU ambassadors meeting in Brussels gave preliminary approval to the loan, alongside a new package of sanctions targeting Russia. Final approval is expected to follow shortly.

The funding had originally been agreed in December but was blocked in February by Hungarian Prime Minister Viktor Orbán, who objected after oil supplies were disrupted due to damage from Russian strikes inside Ukraine.

Orbán had insisted that deliveries resume before Hungary would lift its veto. His recent election defeat has also helped ease tensions, with incoming leader Péter Magyar signalling a desire to improve relations with Brussels.

EU foreign policy chief Kaja Kallas said the loan was crucial for Ukraine and demonstrated that Russia could not outlast Kyiv economically.

Ukrainian Deputy Prime Minister Taras Kachka described the funding as “a matter of life and death,” noting that around two-thirds would be directed toward defence, with the remainder supporting broader economic needs.

Energy operators said pressure was being restored to the pipeline, with oil expected to begin reaching Slovakia and Hungary within hours. Hungarian energy company MOL Group said it anticipated receiving supplies by Thursday.

The disruption had significantly strained energy supplies in the region, with Hungary and Slovakia heavily reliant on pipeline imports. Orbán had previously accused Ukraine of imposing an “oil blockade,” a claim Kyiv denied, pointing instead to infrastructure damage caused by ongoing conflict.

Former Federal Reserve official Kevin Warsh has pushed back against concerns over his independence, telling lawmakers he would not act as a “sock puppet” for Donald Trump if confirmed as chair of the Federal Reserve.

Appearing before a Senate committee, Warsh faced questions about his conversations with Trump, who has repeatedly called for interest rate cuts. Democratic senators expressed concern that the nominee might align monetary policy too closely with the president’s preferences.

Warsh said he had never advised Trump on where interest rates should be set, arguing that policymakers should avoid publicly pre-judging such decisions.

“That’s unhelpful,” he told the hearing, adding that central bankers should remain flexible and responsive to incoming economic data rather than committing to positions in advance.

He also denied striking any agreement with Trump to lower rates if confirmed, stressing the importance of maintaining the Fed’s independence.

Despite inflation remaining above the Fed’s long-term target in recent years, Warsh signalled a willingness to reassess how inflation is measured, saying he had limited confidence in traditional indicators. His comments suggested that elevated inflation alone might not necessarily prevent rate cuts under his leadership.

In his opening remarks, Warsh highlighted the cost of living as a central concern for Americans, noting it may be the most pressing economic issue facing the country.

While he described the broader economy as being close to full employment, Warsh acknowledged that many Americans continue to feel the strain of rising prices.

Responding to questions from Andy Kim, he said policymakers should not dismiss public perceptions of economic hardship.

“Central bankers should not be second-guessing what people feel and see in their own lives,” Warsh said.

Authorities in Japan have warned that a second, potentially larger tsunami could strike following a powerful 7.5-magnitude earthquake off the country’s north-east coast.

The Japan Meteorological Agency said further seismic activity of a similar scale could occur over the coming week, noting that such warnings are standard after major earthquakes. Officials are also urging vigilance for landslides and additional aftershocks.

Residents in affected areas have been told to remain alert and stay inland until all tsunami advisories are lifted. Minoru Kihara reinforced the message, advising people not to return to coastal zones prematurely.

Initial reports indicate that around 100 households have been left without power, while some services on the Shinkansen have been temporarily suspended as a precaution.

Japan is one of the most seismically active countries in the world, accounting for more than 10% of earthquakes of magnitude six or higher globally. On average, the country experiences a magnitude-seven quake roughly once every 16 months.

The warning comes with the memory of the devastating 2011 Tohoku earthquake and tsunami still fresh. That magnitude 9.0 quake triggered a massive tsunami that killed more than 18,000 people and led to a nuclear disaster in Fukushima Prefecture.

Officials say lessons from that disaster have shaped current emergency responses, with stronger emphasis on rapid evacuation and public compliance with warnings. Residents are being urged to move to higher ground immediately if further alerts are issued, as tsunami waves can arrive in multiple surges and increase in size after the initial impact.