Israel-Gaza live updates: Hamas publishes names of 20 living Israeli hostages to be released

Palestinian Authority President Mahmoud Abbas welcomed the Gaza ceasefire in a Thursday statement, saying that ultimate sovereignty over the devastated coastal territory "belongs to the state of Palestine."

"President Abbas expressed hope that these efforts would be a prelude to reaching a permanent political solution, as announced by President Trump, leading to an end to the Israeli occupation of the state of Palestine and the establishment of an independent Palestinian state on the June 4, 1967, borders, with East Jerusalem as its capital," the statement said.

Abbas also expressed Palestinian "readiness to work with relevant mediators and international partners to ensure" the success of the ceasefire proposal, and urged "all parties to commit to the immediate implementation of the agreement."

The statement said that Abbas "reiterated that sovereignty over the Gaza Strip belongs to the state of Palestine, and that the connection between the West Bank and the Gaza Strip must be achieved through Palestinian laws and government institutions, through a unified Palestinian administrative committee and Palestinian security forces, within the framework of a single system and law, and with Arab and international support."

Far-right Israeli Finance Minister Bezalel Smotrich said in a post to X on Thursday that he will not vote to support U.S. President Donald Trump's proposed ceasefire deal, saying Israel should continue its campaign against Hamas once the hostages have been returned.

"Mixed emotions on a complex morning," Smotrich -- a prominent advocate of expanding Israeli settlements in the West Bank, reviving settlements in Gaza and curtailing any Palestinian political independence -- said in a post to X, expressing "immense joy for the return of all our abducted."

Smotrich heads the Religious Zionism party which controls seven seats in the Knesset and is part of Israeli Prime Minister Benjamin Netanyahu's coalition government.

Smotrich said he had "great fear of the consequences of emptying prisons and releasing the next generation of terror leadership, which will do everything to continue spilling rivers of Jewish blood," referring to Israel's agreement to release a large number of Palestinian prisoners from Israeli prisons.

"For this reason alone, we cannot join the short-sighted celebrations and vote in favor of the deal," Smotrich said.

The minister added that he felt a "tremendous responsibility" to ensure that the ceasefire deal does not constitute an agreement for "hostages in exchange for stopping the war."

Smotrich said he hoped that "immediately after the hostages return home, the state of Israel will continue to strive with all its might for the true eradication of Hamas and the genuine disarmament of Gaza, so that it no longer poses a threat to Israel."

Israeli President Isaac Herzog said in a post to X on Thursday that U.S. President Donald Trump's "incredible leadership" in the Gaza ceasefire negotiations has left "no doubt that he deserves the Nobel Peace Prize."

"This is a morning of historic and momentous news," Herzog wrote, expressing his "full support" for the proposed ceasefire deal.

Of Trump, Herzog said the president "will be received with immense respect, affection and gratitude by the people of Israel" if he visits the country in the coming days.

The Israel Defense Forces said in a statement on Thursday morning that it had "begun operational preparations for the implementation" of the proposed ceasefire agreement in the Gaza Strip.

The IDF said it was "carrying out preparations and a combat procedure for the transition to adjusted deployment lines in the near future. The IDF continues to be deployed in the region and to prepare for any operational development."

-ABC News' Kevin Shalvey