The situation in the Gaza Strip has reached a critical point as its only power station has ceased operations due to a lack of fuel. Israel has imposed a blockade on the region, cutting off essential supplies including electricity, fuel, and water. The blockade comes in the wake of a series of attacks by Hamas, leading to a dire humanitarian situation in Gaza. Hospitals and other essential services are running on backup generators, but these too are at risk of shutting down as fuel supplies dwindle.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu has announced the formation of a War Cabinet. This special committee is designed to streamline strategic activities and provide immediate approvals during times of war. The cabinet includes Netanyahu, Defense Minister Yoav Gallant, and opposition leader Benny Gantz. The formation of this cabinet aims to unite political factions in Israel during this tumultuous period.
The blockade imposed by Israel in response to Hamas’ attack on Israel has led to a severe humanitarian crisis in the Gaza Strip. Galal Ismail, head of the Gaza Power Authority, confirmed that the region is currently without electricity. Hospitals are operating on backup generators, but these are also running out of fuel. The Palestinian Ministry of Health has warned that medical facilities will soon be without power, severely impacting emergency services.
The formation of Israel’s War Cabinet is a significant development. Usually comprising the Prime Minister, some cabinet ministers, and military officers, this time the cabinet also includes the leader of the opposition. This move is seen as an effort to maintain political stability within Israel during the ongoing conflict. The War Cabinet aims to manage the war more effectively and make quick decisions.
President Joe Biden has expressed solidarity with Israel, condemning the “unprecedented and appalling assault by Hamas terrorists”. The EU’s top diplomat, Josep Borrell, warned that killing unarmed civilians is a war crime and those responsible will be held accountable. The US is also sending interceptor missiles as part of its initial support to Israel.
The conflict has had a ripple effect on global markets. Israel’s markets fell, and the cost to hedge against a sovereign default in Israel jumped to its highest since January 2014. Oil prices are also expected to surge if the conflict escalates to include other nations like Iran.
Switzerland has announced its support for labeling Hamas as a terrorist organization, a move that would make it more difficult for the group to collect funds, according to Bloomberg. Egypt is also in focus as discussions about providing safe passage for civilians and aid to Gaza’s residents are underway.
Given the gravity of the situation, both in terms of humanitarian crisis and political maneuvering, it is crucial for international bodies to intervene and for diplomatic channels to be fully utilized to bring about a resolution.
