Israel and Hamas Finalize Hostage Release Deal in Gaza

Israel and Hamas have successfully negotiated an agreement for the release of all hostages held by the militant group in Gaza. This significant development comes after two years of conflict that has severely impacted the Palestinian territory and sparked multiple regional tensions. The deal was finalized early on Thursday, following several days of indirect discussions facilitated by the United States, Egypt, Qatar, and Turkey at the resort town of Sharm El-Sheikh.

The breakthrough follows a peace plan introduced by former US President Donald Trump last week. In a statement on social media, Trump expressed pride in announcing the agreement, stating, “I am very proud to announce that Israel and Hamas have both signed off on the first Phase of our Peace Plan.” He confirmed that all 48 hostages would be released soon, with Israeli forces expected to withdraw to a predetermined line as part of the initial steps towards a “Strong, Durable, and Everlasting Peace.”

As the news broke, crowds gathered in Tel Aviv‘s Hostages Square, a site synonymous with demonstrations advocating for the release of the captives. Witnesses also reported celebrations in Deir al-Balah, located in central Gaza. An Israeli official indicated that the implementation of the plan would commence from midday local time, with military withdrawals taking place within 24 hours. The Israeli security cabinet is scheduled to convene to formally approve the agreement later in the day.

In early trading, the Israeli shekel gained about 0.3%, reaching 3.26 per dollar, reflecting optimism over the potential conclusion of a conflict that has heavily impacted Israel’s economy. As part of the agreement, Israel is also set to release approximately 2,000 Palestinian prisoners and increase humanitarian aid to Gaza via United Nations agencies and international organizations. The plan calls for a gradual Israeli military withdrawal to create a buffer zone just within Gaza’s borders, with ongoing discussions anticipated around the future governance and reconstruction of the territory.

Both Trump and Israeli Prime Minister Benjamin Netanyahu have insisted that Hamas must disarm and relinquish any governing role in Gaza, a territory the group has controlled since 2007. In a statement, Hamas characterized the deal as an “end to the war on Gaza” and acknowledged the efforts of the mediators, while emphasizing the importance of adhering to the agreement’s terms. The group underscored its commitment to the national rights of the Palestinian people until full freedom and self-determination are achieved.

The conflict, which escalated dramatically following Hamas’s attack on southern Israel on October 7, 2023, has resulted in the deaths of over 67,000 Gazans, according to the Hamas-run health ministry. The attack claimed the lives of 1,200 Israelis and involved the abduction of around 250 individuals. The United Nations has reported severe humanitarian consequences in the region, with some areas experiencing famine conditions.

This conflict has not only affected Gaza but has also led to military exchanges between Israel and its regional adversaries, including retaliatory strikes against Iranian-backed militias in countries such as Lebanon and Syria. The situation has prompted widespread protests across the globe, with calls for action against Israel gaining traction, particularly within the European Union.

If the agreement holds, it could represent a diplomatic triumph for Trump and potentially bolster his aspirations for the Nobel Peace Prize, with the award announcement set for Friday. Trump hinted at a possible trip to the Middle East, stating, “I’ll be going to Egypt, most likely,” and expressing interest in visiting Israel and addressing the Knesset.

The negotiations have seen the involvement of key figures such as Trump’s son-in-law, Jared Kushner, and Middle East envoy Steve Witkoff, alongside Israel’s team led by Strategic Affairs Minister Ron Dermer. Hamas’s delegation is headed by Khalil Al-Hayya, who was targeted in a recent Israeli missile strike.

Despite the progress made, the finalization of the list of Palestinian prisoners to be released may present challenges, particularly given the diverse perspectives within Netanyahu’s coalition government. Additionally, the proposal for a “Board of Peace,” which would oversee a transitional Palestinian governance structure, remains contentious.

The ongoing discussions will likely address critical issues surrounding Palestinian statehood and the long-term governance of Gaza, as many observers remain skeptical about the potential for a lasting ceasefire. The agreement marks an important moment in a complex and deeply rooted conflict, with the implications reaching far beyond the immediate concerns of hostage release and military withdrawal.