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United States President Joe Biden has announced that Israel and Lebanon's Hezbollah have accepted a United States-brokered peace deal that is designed to be a "permanent cessation" of hostilities between the two sides.
As part of the ceasefire, Israel will gradually withdraw its troops from Lebanon over the next 60 days, Biden said in his address to the nation from the White House on Tuesday, shortly after Israel's Security Cabinet approved the accord.
According to reports, Prime Minister Benjamin Netanyahu presented to the Security Cabinet the agreement aimed at ending months-long fighting between Israel and the Iran-backed Hezbollah which was ignited by the Gaza conflict and has killed and displaced thousands.
Biden said he spoke with Netanyahu and Lebanon's Prime Minister Najib Mikati.
"I'm pleased to announce that their governments have accepted the United States' proposal to end the devastating conflict between Israel and Hezbollah. I want to thank President Macron of France for his partnership in reaching this moment," he said.
"I've directed my team to work with the governments of Israel and Lebanon to forge a ceasefire to bring the conflict between Israel and Hezbollah to a close.
"Under the deal reached today, effective at 4:00 a.m. tomorrow local time, the fighting across the Lebanese-Israeli border will end. This is designed to be a permanent cessation of hostilities," he said.
Biden said what is left of Hezbollah and other terrorist organisations will not be allowed to threaten the security of Israel again.
"Over the next 60 days, the Lebanese Army and the State Security Forces will deploy and take control of their own territory once again. Hezbollah terrorist infrastructure in southern Lebanon will not be allowed to be rebuilt," he said.
"Over the next 60 days, Israel will gradually withdraw its remaining forces and civilians on both sides will soon be able to safely return to their communities and begin to rebuild their homes, their schools, their farms, their businesses, and their very lives," he added.
Describing the conflict between Israel and Hezbollah as the deadliest in decades, Biden said lasting security for the people of the two countries cannot be achieved only on the battlefield.
"Israel must be bold in turning tactical gains against Iran and its proxies into a coherent strategy that secures Israel's long-term safety and advances a broader peace and prosperity in the region," he said.
In New York, UN Secretary-General António Guterres welcomed the ceasefire announcement and hoped that this would put an end to the violence, destruction and suffering the people of Israel and Lebanon have been experiencing.
UN Special Coordinator for Lebanon Jeanine Hennis-Plasschaert echoed similar sentiments.
"This agreement marks the starting point of a critical process, anchored in the full implementation of resolution 1701 (2006), to restore the safety and security that civilians on both sides of the Blue Line deserve," she said.
Senate Majority Leader Chuck Schumer described the accord as a good deal for Israel and the region. It shows that when terrorists are beaten back both militarily and through dogged diplomacy, the likelihood of peace increases, he said.
"Hezbollah said they would never give up as long as there was fighting in Gaza, but today's ceasefire agreement should show Hamas they are as isolated as ever.
"Now, Hamas must release all the remaining hostages and come to a negotiated ceasefire. Carrying on their failed strategy will lead only to further suffering and SENSELESS bloodshed in Gaza. Hamas must recognise that there's no future without a strong and secure state of Israel," Schumer said.
"The Israel-Hezbollah ceasefire agreement also provides an enforcement mechanism to help ensure Hezbollah remains weakened and allows displaced Lebanese and Israeli civilians to return to their homes," he said.
"I applaud the Biden administration for this agreement and for continuing to work to negotiate a ceasefire and the return of all the hostages in Gaza," he said.