Ensuring continuous assistance for Kiev through 2027, European Commission spokeswoman Ana Pisonero emphasized the importance of the European Union reaching an agreement on the 50 billion euro ($53 billion) budget allocation for Ukraine before the year's end.

"It is crucial from our perspective to reach an agreement before the end of the year indeed so Ukraine can continue to receive support as of the beginning of next year," Pisonero told reporters.

The spokeswoman further stated that this newly allocated package, amounting to 50 billion euros, will enable the EU to offer "predictable funding" to Ukraine for the next five years. The European Commission is optimistic that the council will expedite the process, facilitating the prompt transfer of funds to Ukraine.

This development coincides with the EU's efforts to secure a distinct accord for 20 billion euros in military support for Ukraine spanning the next four years. Presently, the endorsement of these proposals faces impediments from certain EU nations, spearheaded by Hungary. Budapest has consistently highlighted the concern that Ukraine has yet to provide an account for the funds it has previously received.

Read more: Borrell: EU gave 'highest figure ever' of $28.9bn total to Ukraine

US funding crucial for Ukraine

On December 5, Andriy Yermak, head of Ukraine's President's Office stated that Ukraine risks losing the war with Russia if the US does not authorize increased military aid for the nation.

"If the help, which now debating in Congress, will be just postponed...it makes with very high possibility impossible to continue to liberate and give big risk to lose this war," Yermak said. 

US military spending is anticipated to rise by 3.6% in the 2024 fiscal year, reaching approximately $830 billion. The Pentagon already surpasses the combined defense budgets of the world's nine next-largest nations.

Additionally, US President Joe Biden has sought congressional approval for $106 billion in supplemental national security funding, including $61.4 billion in extra military aid for Ukraine. He also motioned to lift all restrictions on military weapons being sent to "Israel", eliminating the $200 million cap, and creating a free-flowing to provide any defense articles to "Israel".

However, a recent setback occurred when Republican senators blocked the bill, citing demands for immigration reforms to be included in the package.

"This cannot wait," Biden said in a televised address at the White House on Wednesday. "Frankly, I think it's stunning that we've gotten to this point in the first place, where Republicans in Congress are willing to give Putin the greatest gift he could hope for."

On Tuesday, Biden extended an invitation to Ukrainian President Volodymyr Zelensky for a meeting at the White House.

The White House underscored the timeliness of Tuesday's meeting, coinciding with heightened escalations between Russian and Ukrainian forces. Meanwhile, Moscow's recent signs of a possible peace deal raise questions about the nature of a potential resolution. 

To alleviate immediate concerns, the US State Department announced a stopgap provision of $175 million in new aid for Ukraine, including critical assets like HIMARS rockets, shells, missiles, and ammunition. The funding dispute, however, highlights growing signs of strain in Western support for Ukraine, particularly as Kiev's counteroffensive faces challenges and Russia seeks to consolidate its territorial gains. Despite billions spent on Western weapons, Ukraine's front lines have seen minimal shifts, with Russian operations intensifying over the past year.

Read more: US Senate fails to advance supplemental bill failing Ukraine, 'Israel'