Netanyahu Postpones Ceasefire Vote, Raising Questions About Gaza Truce Prospects

Israeli Prime Minister Benjamin Netanyahu has postponed a cabinet meeting that was set to vote on a ceasefire agreement with Hamas. The meeting has been delayed due to what Netanyahu has described as “last minute concession” demands from Hamas.

What Happened: The vote, which was expected to take place on Thursday, has been put on hold by Netanyahu, who stated the meeting will only proceed once Hamas withdraws its demands. This development has cast doubt on the possibility of a ceasefire after 15 months of conflict, NPR reports.

Netanyahu stated the meeting will only proceed once mediators confirm all elements of the agreement have been fully accepted. He did not specify which parts of the deal Hamas had allegedly violated.

Senior Hamas official Sami Abu Zuhri has rejected Netanyahu’s claims, asserting that there is no foundation to the allegations that Hamas is backing out of parts of the ceasefire agreement.

Also Read: Oil Prices Break $80, Reach 6-Month Highs Despite Israel-Hamas Ceasefire Deal: Why Is Crude Rallying?

Netanyahu has been under pressure from right-wing members of his coalition government who oppose any form of deal with Hamas, according to NPR. These members have warned they may exit the coalition if a deal is finalized, a decision that could potentially topple Netanyahu’s government.

Why It Matters: The conflict between Isreal and Hamas has a long history, with the ceasefire agreement being a significant development. The verbal agreement for a ceasefire in Gaza was reached after months of negotiations and has the potential to bring an end to the ongoing war in the Middle East.

This development has had a significant impact on the stock market, with defense stocks, including Lockheed Martin LMT, Northrop Grumman NOC and Raytheon Technologies RTX, experienced declines on Wednesday as news of a Gaza ceasefire gained traction.

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