President Biden has signed a $95 billion foriegn aid bill that will send billions of crucial aid to Ukraine for its fight against Russia.

"It's a good day for America, it's a good day for Europe, and it's a good day for the world peace," Biden said from the White House on Wednesday.

He said the initial shipments of weapons to Ukraine would begin "within hours."

The U.S. Senate passed the package on Tuesday after the House passed it over the weekend. The aid package also provides money for Israel and Taiwan for their defense needs. The package of bills also requires China to sell TikTok or it will be banned in the United States.

Russian forces are likely to ramp up their attacks on Ukraine's territory to take advantage of the final weeks before $61 billion of U.S. aid finally makes its way to the front lines. 

The Ukrainian front line will continue to deteriorate, particularly if Russian forces increase their attacks to take advantage of the limited window before the help arrives, according to The Institute for the Study of War (ISW), adding that it is likely that Russian forces will intensify offensive operations and missile and drone strikes. 

"Ultimately it offers Ukraine the prospect of staying in the war this year,"  Michael Clarke, visiting professor in war studies at King's College London, told the Associated Press. "Sometimes in warfare you've just got to stay in it. You've just got to avoid being rolled over."

Pentagon Spokesperson Brigadier General Patrick Ryder believes that the United States will be able to "rush the security assistance in volumes" soon now that the aid package is approved.

The Pentagon says it will begin moving ammunition, artillery shells and air defense assets quickly but the ISW says it will take several weeks for any new weapons to reach the front lines in Ukraine and it will be June before Ukraine will be in an improved position.