Israel has presented a proposition to Hamas, suggesting a temporary ceasefire lasting a week in exchange for the release of about 40 hostages, CNN reports.

Citing insights from its political and foreign policy analyst Barak Ravid, CNN disclosed that two Israeli officials and an additional source are privy to the information.

The deal is being presented to Hamas through Qatari mediators, Ravid said.

Michael Herzog, the Israeli ambassador to the United States, acknowledged that Israel is open to a ceasefire if it results in the release of as many hostages as possible. However, he did not confirm the finalisation of a deal.

“I think it’s premature to determine whether we have a deal because, up to now, Hamas has been unwilling to engage in further negotiations,” Herzog stated to CNN.