Key Points

Saudi Arabia's Ministry of Foreign Affairs (MFA) said in a statement that the agreement "paves the way for a comprehensive and just peace".

"The Kingdom appreciates the active role of U.S. President Donald Trump and the mediation efforts by the State of Qatar, the Arab Republic of Egypt, and the Republic of Turkiye to reach this agreement," it said.

"The Kingdom expresses its hope that this important step will lead to urgent action to alleviate the humanitarian suffering of the Palestinian people in Gaza Strip, achieve a full Israeli withdrawal, restore security and stability, initiate practical steps to achieve a just and comprehensive peace based on the two-state solution, and the establishment of an independent Palestinian state on the 1967 borders, with East Jerusalem as its capital, in accordance with relevant United Nations resolutions, the Arab Peace Initiative, and the New York Declaration on the Peaceful Settlement of the Question of Palestine and the Implementation of the Two-State Solution," it added.

Meanwhile, the Israeli government has voted in favour of a ceasefire and hostage release agreement under US President Donald Trump's 20-point Gaza Peace Plan, CNN reported on Thursday.

This comes as Prime Minister Benjamin Netanyahu initially convened Israel's security cabinet to discuss the decision, and subsequently, held a meeting with ministers.

"The government has now approved the outline for the release of all the hostages - the living and the dead," the Israeli Prime Minister's office announced early on Friday morning, The Jerusalem Post reported.

Officials have stated that the ceasefire will take effect immediately, according to CNN.

Steve Witkoff, US President Donald Trump's special envoy to the Middle East, and his son-in-law, Jared Kushner, were also present in the Israeli government's meeting in Jerusalem, where the government voted on the US-brokered ceasefire deal.

With this, the Israeli government approved "phase one" of a ceasefire agreement, where the exchange of hostages and Israel's withdrawal from parts of Gaza is expected, Al Jazeera reported.

Hamas chief negotiator Khalil al-Hayya spoke about the guarantees received from the US that the ceasefire agreement's first phase means that the war in Gaza "has ended completely".

Gaza's Civil Defence said that the military strike by Israel trapped over 40 Palestinians under the rubble in northern Gaza's Al-Sabra neighbourhood.

However, the Israel Defence Forces (IDF) said that the attack was on a "Hamas terrorist cell" in northern Gaza that "posed an immediate threat", CNN reported, saying that it cannot verify the IDF's statement.

A video by Civil Defence depicts emergency crews attempting to rescue men, women and children from the rubble. In one clip, a rescue worker gently lifts a little boy from the razed house. The child's body is covered in a thick layer of dust and bloodied scrapes. He can be heard screaming, CNN reported.

Earlier, US President Trump on Wednesday announced that Israel and Hamas had agreed to the first phase of a peace plan, which would end the war in Gaza with a ceasefire deal. In this, he said that the hostages will be released.

Later, the US President held a cabinet meeting at the White House on Thursday morning following the announcement that the "first phase" of a ceasefire agreement between Israel and Hamas would commence soon.

At the meeting, Trump said, "Last night, we reached a momentous breakthrough in the Middle East, something that people said was never going to be done. We ended the war in Gaza, and I think it's going to be a lasting peace, hopefully, an everlasting peace."

"We secured the release of all of the remaining hostages, and they should be released on Monday or Tuesday. Getting them is a complicated process...I'm going to try and make a trip over. We're going to try and get over there. We're working on the timing, the exact timing. We're going to go to Egypt, where we'll have a signing, an additional signing. We've already had a signing representing me, but we're going to have an official signing..." he said.

Trump also emphasised his administration's role in resolving global conflicts, stating that multiple wars had been brought to a close during his tenure.

- ANI