• The EU approved a €90 billion loan for Ukraine after Hungary and Slovakia dropped objections.
• The approval follows the resumption of Russian oil flows through the Druzhba pipeline.
• Ukrainian President Zelensky hailed the loan as crucial for defense and economic stability.
• A new round of EU sanctions targeting Russia's energy and banking sectors was also approved.
• This marks the 20th package of sanctions imposed by the EU since the start of the conflict.

The European Union has given final approval to a €90 billion ($106 billion) loan for Ukraine, providing essential support as the country continues to face economic and military challenges from Russia. The decision came after Hungary and Slovakia lifted their objections following the resumption of oil flows through the damaged Druzhba pipeline, which supplies Russian crude to the two countries, according to SCMP, Le Monde, and India Times.

The loan will be vital for Ukraine's budgetary needs and military preparations, with President Volodymyr Zelensky stating, "Today is an important day for our defense and for our relations with the European Union," emphasizing the urgency for the initial funds to be disbursed by May or June. The support comes amidst a backdrop of increasing financial strain on both Ukraine and Russia, which the EU aims to counter with this financial package and new sanctions, according to SCMP and Le Monde.

Alongside the loan approval, the EU announced a comprehensive package of sanctions targeting Russia's energy and banking sectors, aimed at imposing further economic strain on the Kremlin. The sanctions will include restrictions on the "shadow fleet" of tankers that Russia uses for oil export and will clamp down on cryptocurrency activities associated with Russia, as stated by EU officials. This sanctions package is the 20th since the start of the conflict, as both Le Monde and India Times noted.