Israelis and Palestinians Celebrate Ceasefire Announcement and Hostage Deal

Israelis and Palestinians celebrated the announcement of a ceasefire and hostage exchange agreement as part of the first phase of U.S. President Donald Trump's plan to put an end to the war in Gaza.

The agreement was due to be signed by the adversaries at midday in the Egyptian seaside town of Sharm el-Sheikh, following their public endorsement. However, there was no immediate official confirmation that the signing had taken place.

The office of Israeli Prime Minister Benjamin Netanyahu stated that the ceasefire would be implemented if it was approved by the Israeli government, which would meet following a 5:00 p.m. security cabinet meeting.

Israel's hostage coordinator, Gal Hirsch, said the list of the Palestinian prisoners to be freed was still being worked out.

Residents in Gaza reported a series of air strikes on Gaza City around the time it was due to be signed.

According to an Israeli official, all 20 Israeli hostages who are believed to still be alive in Gaza are anticipated to be released on Sunday or Monday.  Two hostages remain unaccounted for, while another 26 have been pronounced killed in absentia.  Hamas has hinted that recovering the dead strewn around Gaza would take some time.

According to Reuters,  following the announcement of the agreement, Palestinians and the relatives of Israeli hostages erupted in riotous celebrations.

Even as Israeli strikes persisted, young men cheered in the devastated streets of Gaza, where the majority of the more than 2 million residents have been displaced by Israeli bombing.

"Thank God for the ceasefire, the end of bloodshed and killing," said Abdul Majeed Abd Rabbo in Khan Younis in southern Gaza. "I am not the only one happy, all of the Gaza Strip is happy, all the Arab people, all of the world is happy with the ceasefire and the end of bloodshed."

In Tel Aviv's so-called Hostages Square, families of those captured in the Hamas attack that started the war two years ago have gathered to demand their return. Einav Zaugauker, whose son Matan is among the remaining captives, celebrated.

"I can't breathe, I can't breathe, I can't explain what I'm feeling ... it's crazy," she said, speaking in the red glow of a celebratory flare.

"What do I say to him? What do I do? Hug and kiss him," she said. "Just tell him that I love him, that's it. And to see his eyes sink into mine ... It's overwhelming — this is the relief."

However, Gaza residents reported Israeli strikes on three suburbs of Gaza City continued overnight and into Thursday morning.

According to the Gaza health ministry, Israeli fire has killed at least nine Palestinians in the last 24 hours.

The agreement, which was the first step in a 20-point framework Trump proposed, was reached in indirect discussions in Egypt just one day after the second anniversary of the cross-border attack by Hamas terrorists that led to Israel's deadly strike on Gaza.