Nobody is hoping for a peace deal. The goals of Russia and Ukraine are too incompatible for any peace deal European leaders could support. Everyone has resigned to the fact that the war will go on, until the internal politics in either country make it impossible to continue. Or until something completely unexpected happens.

And the $100 billion/year military aid can go on indefinitely, because it's only a fraction of the increased military spending due to the war. If the war ends too soon with the terms favoring Russia, Europe would have to spend even more to increase the pace of its remilitarization.