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A ceasefire could seriously calm rising tensions in the region. Hezbollah has threatened Cyprus (likely a ploy to get EU partners to call on Israel not to proceed with expanded war on Leb) & Houthis & IRI are attacking ships in Med now. Foreign fighters could rush into fight too.
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Nobody knows what this could mean for strained internal issues in Lebanon as well. But with the US promising to back Israel in an expanded war, the risks are that many actors (state and non state) jump in, increasing possibilities of spiraling out of control