In a recent development, Israel has issued a seven-day ultimatum to the Hamas government in the Gaza Strip, demanding a hostage exchange deal. The ultimatum threatens an attack on Gaza's Rafah if the agreement is not reached within the specified period.

According to a report by The Wall Street Journal on Saturday, the Israeli government under Prime Minister Benjamin Netanyahu has given this ultimatum. While the exact timing of the ultimatum remains unclear, the report cites statements from an Egyptian official on Friday confirming the proposal.

The proposed agreement, brokered by Egypt, entails a two-phase approach. In the first phase, a 40-day cessation of hostilities in Gaza would ensue, during which 33 Israeli hostages would be released in exchange for Palestinian hostages. Subsequently, in the second phase, a six-week period of ceasefire would be observed, with both sides releasing the remaining hostages. The possibility of extending the ceasefire period is also under consideration if both parties agree.

While Hamas leader Yahya Sinwar based in Gaza has yet to respond to the proposal, speculations arise regarding Hamas potentially offering a counterproposal instead of outright rejection.

The backdrop of this ultimatum stems from heightened tensions between Israel and Hamas, particularly following the major military operation launched by Hamas in Israel on October 7 last year. In response, Israel initiated airstrikes and ground attacks on Gaza, resulting in significant casualties and infrastructure damage. The United Nations has raised concerns about the humanitarian crisis in Gaza, with acute shortages of essential supplies and infrastructure destruction affecting millions of Gazans.

As the deadline looms, the fate of the proposed hostage exchange deal remains uncertain, with implications for the ongoing conflict between Israel and Hamas and the broader stability of the region.