Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Leaders from around 20 countries will gather in Egypt for a “peace summit” on Monday, as US President Donald Trump embarks on a lightning trip to the Middle East as part of his drive to secure a permanent end to the two-year war between Israel and Hamas in Gaza.
The summit comes as Hamas is due to free the Israeli hostages it still holds in Gaza in exchange for the release of almost 2,000 Palestinian prisoners from Israeli jails, as part of the first phase of the US president’s plan to end the deadliest war in the history of the Israeli-Palestinian conflict.
A person familiar with the situation said the release of the 48 remaining hostages — 20 of whom are believed to be alive — was expected to take place on Monday morning, but the timing could change and “last-minute hiccups” were still possible. Palestinian prisoners will be released after the hostages are freed.
The prospect of an end to the war has sparked an outpouring of emotion in both Israel and Palestine. Hundreds of thousands of Israelis chanted “Thank you Trump!” when they rallied in Tel Aviv on Saturday night ahead of the expected return of the hostages, and there were celebrations in Gaza, where displaced families have begun to return to their shattered homes.
Workers hang a large banner for the Sharm el-Sheikh Summit for Peace © Amr Abdallah Dalsh/Reuters
But while both Israel and Hamas have agreed to the exchange, and a fragile ceasefire has held in Gaza since Friday, they have yet to agree to the second phase of Trump’s plan, which calls for Hamas’s disarmament, a broader withdrawal of Israeli troops from Gaza and the deployment of an international stabilisation force in the Palestinian enclave.
A spokesman for the Egyptian presidency said on Saturday that the summit in Sharm el-Sheikh — before which Trump will make a brief stop in Israel to meet hostage families and address the parliament — aimed to “end the war in the Gaza Strip, strengthen peace and stability efforts in the Middle East, and open a new page in regional security and stability”.
Among the leaders who have confirmed they will attend the summit, which will be co-chaired by Trump and his Egyptian counterpart Abdel Fattah al-Sisi, are French President Emmanuel Macron, UK prime minister Sir Keir Starmer and Turkish president Recep Tayyip Erdoğan.
However, neither Israel nor Hamas will attend the summit, and diplomats expect that securing their agreement on the second phase of Trump’s plan will be far more complicated than for the first.
A convoy of humanitarian aid trucks drives past makeshift tents and shelters in the Nuseirat refugee camp in central Gaza © Eyad Baba/AFP/Getty Images
Israeli Prime Minister Benjamin Netanyahu’s government has made no pledge to fully withdraw its troops from Gaza, nor does it talk of ending the war, and his far-right coalition partners have repeatedly threatened to topple his administration if the war ends without Hamas’s destruction.
Defence minister Israel Katz said on Sunday that he had ordered Israeli forces to prepare for blowing up Hamas’s remaining tunnel network in Gaza.
Meanwhile, Hamas has yet to agree to disarm, and in a display of force has begun reasserting its power in parts of Gaza from which Israel has withdrawn since the ceasefire took effect on Friday, setting up checkpoints and engaging in gun battles with rival groups in the enclave.
Nonetheless, diplomats regard the latest push as the best chance so far of finally ending the war in Gaza, which was triggered by Hamas’s shock October 7 2023 attack on Israel during which Palestinian militants killed 1,200 people, according to Israeli officials, and took a further 250 hostage.
Israel’s retaliatory offensive has killed more than 67,600 people, according to Palestinian officials, reduced much of Gaza to uninhabitable rubble, and has drawn accusations — which Israel denies — that it has committed genocide in the Palestinian enclave.
