Netanyahu says Israel-Hamas deal to pause Gaza War is approved

Bloomberg News on Jan 16, 2025

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Israel’s Prime Minister Benjamin Netanyahu said an agreement with Hamas to pause the war in Gaza has been finalized, suggesting it’s on track to begin on Sunday.

Netanyahu, in a statement on Friday morning, said he ordered his security Cabinet to meet later in the day to approve the truce, which has been backed by U.S. President Joe Biden and incoming leader Donald Trump.

The deal looked at risk of collapsing on Thursday when Netanyahu accused Hamas of reneging on some commitments. He said his Cabinet would not convene until the group, designated a terrorist organization by the U.S. and many others, accepted all elements of the agreement.

It was announced by Biden, Trump and key mediator Qatar on Wednesday evening. Under the terms, Hamas will release 33 of about 98 hostages still held in Gaza in the first, six-week phase of the ceasefire. Israel will withdraw troops from populated areas of the Palestinian territory and free around 1,000 Palestinian prisoners.

Biden made clear he wants the truce to permanently end hostilities, which he says will calm the wider Middle East and help broaden Israel’s diplomatic ties with Arab states, including Saudi Arabia.

Yet within Israel there’s plenty of wariness, with many politicians saying the war should continue until Hamas is completely destroyed.

Far-right ministers Bezalel Smotrich and Itamar Ben Gvir have threatened to walk out the ruling coalition if a ceasefire’s approved. It’s unclear if Netanyahu has persuaded Smotrich to drop his demand for the war to restart after the 42 days of truce come to an end.

Netanyahu, in his statement on Friday, did not mention that. Israel, he said, is “committed to achieving all of the objectives of the war including the return of all of our hostages, the living and the deceased.”

Once the ceasefire starts, Israel and Hamas will start talks over the release of the rest of the hostages and over Gaza’s reconstruction and future governance. While Israel wants Hamas to play no part in the latter, it’s unclear if any other entity is capable or willing to take power.

The truce is set to start a day before Trump enters the White House. His and Biden’s teams have worked closely together to get a ceasefire in place by that date, something Trump and Biden said was a key goal. That combined pressure was seen as crucial to getting Israel and Hamas to reach an agreement after months of stalled talks.

Israel stocks have gained significantly in recent days in anticipation of a ceasefire being reaching. The main bourse in Tel Aviv rose 4.4% this week in dollar terms, once of the best performances globally.

The 15-month war began when Hamas fighters raided southern Israel on Oct. 7, 2023, killing 1,200 people and taking 250 hostage. More than 46,000 Palestinians have been killed by Israel’s subsequent military campaign, according to the health ministry in Hamas-run Gaza.

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