Speaking to "Ringvaade," Mihkelson described the agreement as a development which "satisfies all parties" and could pave the way for longer-term stability. He said: "Ultimately, this is highly good news. Both sides have agreed to try to uphold the ceasefire for the next 60 days, plus we hope this will lead to a more lasting truce."

"One hotspot less in the Middle East is very welcome," Mihkelson went on. The ceasefire, brokered with significant U.S. mediation, marks a temporary halt to a conflict which has lasted over a year and claimed thousands of lives.

According to Mihkelson, the agreement reflects a significant diplomatic achievement for outgoing U.S. President Joe Biden, and could ease the transition for the incoming Donald Trump administration – likely to be more isolationist. Trump enters office on January 20, a week before the 60-day ceasefire is due to expire. Mihkelson said: "This ceasefire is a strong achievement for Biden, who can show, as he leaves office, that he has accomplished something, but also for Trump, who now has one less issue to have to grapple with."

At the same time, the MP linked the timing of the ceasefire to broader strategic considerations involving the incoming Trump administration and Israel's regional priorities, including with regard to Iran, which in effect sponsors the Shia Islamic Hezbollah.

"If we now consider that this ceasefire lasts for 60 days, what will take place in the U.S. 60 days from now? There will be a new administration, but it is very likely that [Israeli Prime Minister Benjamin] Netanyahu assumes – though perhaps there are already background agreements with the incoming Trump administration on this – to exert significantly greater pressure on Iran," Mihkelson went on.

"Plus it is clear that Iran represents an existential threat to Israel, as we have also seen genuine military clashes in the form of missile strikes, between Iran and Israel," he added.

Turning to the broader regional implications, Mihkelson suggested that the ceasefire strengthens Israel's position, particularly in relation to another terror group, Hamas. "But I think what happened this morning (Wednesday – ed.), primarily as a consequence of U.S. mediation, temporarily satisfies all parties. I would agree, as the Israeli prime minister said, that this certainly puts Hamas in a trickier position and grants Israel the opportunity to put greater pressure on Hamas," Mihkelson said.

The MP stressed that the Israeli leadership remains unequivocally committed to eliminating Hamas as a terrorist threat, meaning this complicates any potential future attempts at mediation involving Hamas and brokered by the U.S. At the same time: "It is possible that this will put some pressure on Hamas to be more accommodating, for example, regarding the release of hostages," Mihkelson went on.

Hamas led a missile attack and attacks on and abductions of Israeli civilians on October 7 last year, prompting Israel to strike Hamas' stronghold of Gaza, which has led to tens of thousands of deaths. Hamas is one of the three apexes of the triple-H triangle, the others being Hezbollah and the Yemen-based Houthis.

All three organizations are likely to want to remain in the spotlight by conducting attacks as a means of justifying their raison d'etre; in the case of Hezbollah, while backed by Tehran, the main threat direction comes from Lebanon, to Israel's north. Israel had sent troops into Lebanon in response to Hezbollah attacks; the new ceasefire means both sides are required to withdraw from this zone. Israel had also struck neighboring Syria.

Iran is not a nuclear power but is developing nuclear capabilities, particularly in the more mountainous east of the country, which is a cause for concern, but beyond that it is both oil-rich and could potentially shut off the Strait of Hormuz, between the Persian and Oman gulfs, through which nearly 30 percent of the world's traded oil flows on an average day.

While much of the media attention has fallen on Iran, the latter's regional rival, Saudi Arabia, on the other side of the gulf, must also be factored in, and efforts to bring that country further on board may be made by the Trump administration.

Although of a protectionist and isolationist strain, Trump does have some form in the region; the 2020 Abraham Accords took place on his watch and saw the U.S. mediate between Israel, Bahrain, and the UAE.

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