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Biden To PM: Accept Ceasefire Deal; Says Haniyeh Killing Doesn't Help
US President Joe Biden called on Israeli PM Benjamin Netanyahu to accept the current ceasefire-for-hostages deal on the table to end the war in Gaza. In a call on 1 August between the two, Biden said that he told Netanyahu “We have the basis for a cease-fire,” adding that “He should move on it and they should move on it now.” Biden also said that the killing of Hamas' political leader Ismail Haniyeh in the Iranian capital, Tehran, had “not helped" the situation.
- The entire region remains in a state of heightened alert, with the likelihood of an Iranian-orchestrated retaliation likely in the coming days. This could come directly from Iran, from its proxies in the 'Axis of Resistance', or a combination of both.
- Bloomberg reports: "The truce negotiations, mediated by Qatar, the US and Egypt, have dragged for months. The two sides are working on a plan Biden outlined in May, which would see fighting initially stop for six weeks, with some hostages released as well as Palestinians in Israeli jails. The second and third stages would lead to more captives being freed and potentially a permanent end to the war."
- Netanyahu remains under pressure from the ultranationalist wing of his coalition gov't to continue the war in order to wipe out Hamas in Gaza (an overwhelmingly difficult prospect). Should he accept a ceasefire deal that the ultranationalists view as offering too many concessions it would risk the withdrawal of their support and the collapse of the gov't.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.