WEBVTT - SPECIAL COVERAGE: Israel and Hezbollah Reach Ceasefire

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Under the deal reached today, effective at four am tomorrow

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<v Speaker 2>local time, the fighting across the Celebanies Israeli border will end,

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<v Speaker 2>will end. This is designed to be a permanent cessation

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<v Speaker 2>of hostilities.

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<v Speaker 3>What is left of.

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<v Speaker 2>Hesbalah and another terrorist organization will not be allowed.

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<v Speaker 1>President Biden there in the Rose Garden at the White

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<v Speaker 1>House saying that Israel and Hesbela have agreed to a

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<v Speaker 1>cease fire deal. Giving his remarks on the Middle East conflict,

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<v Speaker 1>he says this ceasefire deal will last for sixty days.

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<v Speaker 1>He also went on to say that the people of

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<v Speaker 1>Gaza also deserve a cease fire deal, and he says

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<v Speaker 1>the only way out for Hamas is to release those

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<v Speaker 1>hostages that have been held in captivity. So a big day,

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<v Speaker 1>and we certainly heard earlier in the day from Prime

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<v Speaker 1>Minister Benjamin Notat in Yahoo said he would bring the

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<v Speaker 1>proposed ceasefire to a vote by his security cabinet.

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<v Speaker 4>Yeah, that ceasefire, Lebanon ceasefire begins at four am local time.

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<v Speaker 4>For more, let's go to Bloomberg News. US National Security

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<v Speaker 4>Team Leader Nick Wadhams, who's standing by in Washington, DC. Nick,

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<v Speaker 4>good to have you joining us on this breaking news.

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<v Speaker 4>Help us understand where exactly this ceasefire, what part of

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<v Speaker 4>the war the ceasefire effects, and what part of the

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<v Speaker 4>war is still continuing to be ongoing.

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<v Speaker 5>So there are essentially two fronts to this war. There's

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<v Speaker 5>Israel's battle with Hamas and the Gaza Strip, and then

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<v Speaker 5>resulting from that, after the attack by Hamas on October

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<v Speaker 5>seventh that provoked the Israeli campaign in the Gaza Strip,

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<v Speaker 5>you've seen increasingly intense fire between Hesbela and Israel, and

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<v Speaker 5>in recent weeks that essentially turned into a full blown

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<v Speaker 5>war where you had Hesbelah launching missiles from Lebanon into Israel,

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<v Speaker 5>and you also had Israel widening the scope of a

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<v Speaker 5>pretty devastating campaign against Hesbolah in Lebanon, taking out many

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<v Speaker 5>of its top leaders and also striking targets in the

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<v Speaker 5>heart of Bay Root, essentially turning that city essentially into

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<v Speaker 5>a war zone. So that was where the Biden administration

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<v Speaker 5>and others such as France, which was also a sort

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<v Speaker 5>of handmade into this deal, found the prospect for an agreement,

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<v Speaker 5>and that's really where they focus. So what you see

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<v Speaker 5>today is the Biden administration getting that pause. Hopefully they

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<v Speaker 5>say it'll be much longer than a pause, It'll be

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<v Speaker 5>a permanent ceasefire between Israel and Hesbalah. And then as

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<v Speaker 5>the President mentioned there, that would then in turn allow

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<v Speaker 5>for pressure to be put on Israel and Hamas to

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<v Speaker 5>get the much authority or agreement, which would be an

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<v Speaker 5>end to the violence in the Gaza strip. That's still

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<v Speaker 5>quite a long ways off, no indication that that would

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<v Speaker 5>be able to be completed by the end of Biden's

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<v Speaker 5>term and when President Elect Trump takes over.

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<v Speaker 1>Nick safe to say that the Israel war in Lebanon

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<v Speaker 1>and that was not very popular with the people of Israel.

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<v Speaker 1>But I do wonder about bringing some kind of end

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<v Speaker 1>to what's happening in Gaza. Is that as likely? Should

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<v Speaker 1>we assume that an end to that is just around

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<v Speaker 1>the corner or these are two different fronts and two

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<v Speaker 1>different stories here.

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<v Speaker 5>Yeah, I mean, that's We've had a lot of false

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<v Speaker 5>hopes over the months since October seventh, twenty twenty three,

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<v Speaker 5>when Hamas launched that attack on Israel, that we would

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<v Speaker 5>see something. There had been a very brief cease fire

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<v Speaker 5>at one point, but you know, The intractable problem there

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<v Speaker 5>is that Israel says it will not stop the fight

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<v Speaker 5>in Gaza until Hamas no longer exists as a fighting force.

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<v Speaker 5>Hamas meanwhile says, even though it's in a vastly degraded state,

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<v Speaker 5>it says it will not end the fighting until Israel

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<v Speaker 5>with draw us from the Gaza strip. I mean, those

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<v Speaker 5>are two fundamentally oppositional goals, and so far the two

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<v Speaker 5>sides have found no way to be able to reconcile them.

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<v Speaker 5>You also, obviously have the fate of the Israeli hostages.

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<v Speaker 5>There's a dwindling number of those hostages, but there are

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<v Speaker 5>many still be believed to be alive in Gaza. Israel

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<v Speaker 5>wants the back Hamas does not want to give them

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<v Speaker 5>up because then it has no leverage essentially against Israel.

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<v Speaker 5>So a much thorny or much more intractable, intractable conflict,

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<v Speaker 5>And it looks like, you know, with the Biden administration

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<v Speaker 5>having less than two months in office, that's going to

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<v Speaker 5>be a very very big hill to climb for them

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<v Speaker 5>to be able to wrap that up.

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<v Speaker 4>So that's exactly where I wanted to end, Nick, is

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<v Speaker 4>the idea of the incoming administration versus the Biden administration.

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<v Speaker 4>So what the Trump administration has said about the war,

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<v Speaker 4>the war's happening right now versus what the Biden administration

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<v Speaker 4>has sat and tried to do and even today's development,

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<v Speaker 4>How does that change when President elect Trump takes office

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<v Speaker 4>on January twentieth.

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<v Speaker 5>Well, that's the question that is really front and center

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<v Speaker 5>for everyone, because President Elect Trump has essentially given some

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<v Speaker 5>pretty conflicting remarks on that, saying, on the one hand,

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<v Speaker 5>he believes that Israel should be allowed to finish the

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<v Speaker 5>job so that too many people suggests step up paign

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<v Speaker 5>in the Gaza strip against Hamas. He's also said though,

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<v Speaker 5>that he wants it to be wrapped up as quickly

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<v Speaker 5>as possible. So you could see a situation where Trump

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<v Speaker 5>essentially puts more pressure on Prime Minister Benjamin Netanyah, who

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<v Speaker 5>gives him a free reign to do more of what

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<v Speaker 5>he wants, but less time to do it. He would

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<v Speaker 5>have some more leverage over Netanyahu because of the relationship

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<v Speaker 5>between the two of them, Trump and net and Yao,

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<v Speaker 5>who have a much cozier relationship than Biden and net Yahoo,

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<v Speaker 5>which was much more stand offish. So really difficult to

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<v Speaker 5>know how that plays out, because of course Hamas has

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<v Speaker 5>a say here. They can keep up the fight themselves,

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<v Speaker 5>but certainly President elect Trump has promised to bring this

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<v Speaker 5>to a swift end. The challenge, though, of course, as

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<v Speaker 5>I say, is his way of doing that is to

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<v Speaker 5>give Israel more of a free hand. So we'll have

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<v Speaker 5>to see how that plays out.

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<v Speaker 1>Hey, Nick, one last question, and let's just remind everybody

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<v Speaker 1>the top headline off this story. President Bind just speaking

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<v Speaker 1>from the Rose Garden at the White House saying Israel

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<v Speaker 1>reached a ceasefire deal with the Lebanese militant group Hezbollah

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<v Speaker 1>after weeks of talks mediated excuse me, by the United States,

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<v Speaker 1>and hailing this agreement as a major step to ending

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<v Speaker 1>a conflict that we know has killed thousands of people.

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<v Speaker 1>But it's not over yet. As we've been talking about

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<v Speaker 1>what's going on in the Gaza strip, I am curious Nick,

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<v Speaker 1>the timing of this. I'm assuming president like Donald Trump,

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<v Speaker 1>is getting security briefs. Are we assuming that there's some

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<v Speaker 1>conversations going on beyond between the president elect and the

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<v Speaker 1>current president. Maybe there was when they met at the

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<v Speaker 1>White House after Donald Trump was reelected. So I'm just

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<v Speaker 1>curious what you are hearing behind the scenes when it

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<v Speaker 1>comes to what's going on bigger picture.

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<v Speaker 5>Sure, I mean we know that the Trump, the incoming

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<v Speaker 5>Trump administration, the Trump transition team has been getting briefings. However,

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<v Speaker 5>we do have one government at a time, and it

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<v Speaker 5>is actually illegal for non government Americans to conduct foreign

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<v Speaker 5>policy ostensibly on the government's behalf or as a sort

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<v Speaker 5>of government in waiting. That's not really something Trump can do. However,

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<v Speaker 5>what we do know is what we don't know the

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<v Speaker 5>extent of any conversations between Biden and Trump. I'd suspect

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<v Speaker 5>they'd be quite limited. We do know there have been

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<v Speaker 5>several conversations between Trump and Prime Minister Net and Yahoo,

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<v Speaker 5>and that's obviously the thing we're all trying to crack

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<v Speaker 5>what exactly they're saying to each other. What we've heard

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<v Speaker 5>from the Trump administration is it is not very detailed

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<v Speaker 5>conversations that they're not really talking deep strategy or anything

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<v Speaker 5>like that. But you could imagine a scenario where Trump

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<v Speaker 5>is going to put pressure on net and Yahoo in

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<v Speaker 5>one way or another, either to wrap things up or

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<v Speaker 5>who knows. So that's really something that we're trying to crack.

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<v Speaker 5>We do know those conversations are going on all.

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<v Speaker 1>Right, so appreciate it. Bloomberg News US National Security Team

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<v Speaker 1>leader Nick Wadams right there standing by with us. Khaleite

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<v Speaker 1>Alstein is Bloomberg News Economy and Government reporter. She's joining

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<v Speaker 1>us on the phone from Tel Aviv Galt. Initial thoughts

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<v Speaker 1>on this news and what it means for the war

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<v Speaker 1>in between Israel and yes, obviously with Hesbela, but also

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<v Speaker 1>with Hamas.

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<v Speaker 3>Yes, yes, goodnight from television, so obviously on Israel's more

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<v Speaker 3>with Isabella. This is some sea fire that you just

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<v Speaker 3>mentioned is about to go into effect four and a

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<v Speaker 3>half hours according to the reports that we're hearing here,

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<v Speaker 3>and this will bring to an end a war that

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<v Speaker 3>and ongoing fire exchanges that have been going on between

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<v Speaker 3>Israel and Iran backs Isabella since October eighth and twenty

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<v Speaker 3>twenty three. So that will definitely be a big change

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<v Speaker 3>for in this situation that it has been ongoing for

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<v Speaker 3>over over a year. One of Israel's achievements, officials here say,

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<v Speaker 3>is that by achieving this sea fire agreement, Israel has

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<v Speaker 3>managed to disconnect the war with his ballad in Lebanon

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<v Speaker 3>from the war that is going on with Hamas in Gaza.

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<v Speaker 3>You know, this is something that Israel was unable to

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<v Speaker 3>do for a very long time because his Bala leader,

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<v Speaker 3>Hassan Asada, which is well assassinated in late September, he

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<v Speaker 3>made a very strong point of saying that the two

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<v Speaker 3>Arenas and the two armed fronts are connected. And ever

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<v Speaker 3>since he was taken down by Israel and leadership in

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<v Speaker 3>his Balla changed. Israel has wanted to disconnect between the

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<v Speaker 3>two arenas and it is now from from the Israeli perspective,

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<v Speaker 3>it has managed to do that. And now Israel is

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<v Speaker 3>hoping that when Hamas is left on its own secluded,

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<v Speaker 3>you know which Isabella already part of a seafire deal,

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<v Speaker 3>it will put more pressure on Hamas to perhaps reach

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<v Speaker 3>a ceasefire agreement with Israel in Gaza.

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<v Speaker 4>Also relee where does Iran fall in all of this

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<v Speaker 4>and how does their role change as a result of

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<v Speaker 4>this cease fire.

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<v Speaker 3>So reports we're hearing for starters are that Iran did

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<v Speaker 3>support and back there's some sea fire agreement between Chrisbella

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<v Speaker 3>and Israel. Otherwise it probably would not have been able

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<v Speaker 3>to move forward as as it has and as it

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<v Speaker 3>should tomorrow morning. So so that's one one thing to

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<v Speaker 3>know about Iran. Now, Iran and Israel have been exchanging

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<v Speaker 3>fire for for several months now. Every every few months,

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<v Speaker 3>Iran has been attacking as well, ballistically solves as well

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<v Speaker 3>has retaliated recently in an attack of its own. Iran

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<v Speaker 3>has has now seemed to kind of take a step

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<v Speaker 3>back and its intentions to once again retaliate against as

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<v Speaker 3>well and see what the Trump administration is going to

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<v Speaker 3>look like for them, for Iran and perhaps some negotiating

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<v Speaker 3>new nuclear deal with you know, with the US and

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<v Speaker 3>other nations. So Iran it's kind of looks like now

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<v Speaker 3>like it's sitting on the fence. It is noteworthy that

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<v Speaker 3>Benjamin Attemao, when he was giving a televis statement this

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<v Speaker 3>evening just ahead of the of the Cabinet of the

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<v Speaker 3>Israeli cabinets approval of the ceasefire agreement, he did mention

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<v Speaker 3>that one of the reasons for Israel to want to

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<v Speaker 3>achieve a ceasefire, which isabelle at this time, is that

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<v Speaker 3>it can focus on the Iranian threat. And he said

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<v Speaker 3>he would not elaborate on what this means, but he

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<v Speaker 3>was obviously, you know, saying two three run right, and

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<v Speaker 3>we're still looking at you and we're still looking to

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<v Speaker 3>stop you from becoming a nuclear nation.

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<v Speaker 1>Kolly just got about thirty seconds here. So is this

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<v Speaker 1>you know you're on the ground there, you understand the pressure.

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<v Speaker 1>We talked earlier with our Nick Wadams, who covers national

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<v Speaker 1>security certainly here in the United States. But saying that,

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<v Speaker 1>you know, ending what was going on Lebanon maybe is

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<v Speaker 1>not on the same doesn't necessarily mean we're going to

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<v Speaker 1>see an end to what's going on with Hamas and

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<v Speaker 1>uh Palestinians right now. So I just I'm wondering, tell

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<v Speaker 1>us what you can say, is this, Is this a

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<v Speaker 1>big step forward to we assume that we can see

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<v Speaker 1>an end to the conflict very soon everywhere or not

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<v Speaker 1>necessarily just quickly.

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<v Speaker 3>So to summon up very quickly with Hamas. Maybe, like

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<v Speaker 3>I said, if Commas feels more secluded now and feels that,

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<v Speaker 3>you know, more pressure, maybe this can advance and see

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<v Speaker 3>for ideal between Israel and Comas. Iran is a different story.

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<v Speaker 3>Not that Trisabella is weakened after the war with Israel.

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<v Speaker 3>They are more exposed to perhaps an attacked against its

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<v Speaker 3>energy and mulcular facilities. I'm not saying that this is

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<v Speaker 3>on the table here and now, but this is definitely

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<v Speaker 3>something that NATANIAO has been hinting at. And it still

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<v Speaker 3>remains to be seeing whether the direct exchanges between Iran

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<v Speaker 3>and Israel that we've seen over the past month over

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<v Speaker 3>at this point and Lias until the chump and aguration,

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<v Speaker 3>or we'll see more of those exchanges on coming.

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<v Speaker 1>We do know it's late, and we appreciate you giving

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<v Speaker 1>an update on the situation, certainly since you're there on

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<v Speaker 1>the ground. Khalide, thank you so much. Khalide Alstain Bloomberg

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<v Speaker 1>News Economy and Government report on the phone with us

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<v Speaker 1>from Tel Aviv