Middle East war: Netanyahu says he could work with Trump to eliminate Iran threat after Israel election; Iran war cost hits $47.1bn, Hormuz tensions rise

Israeli Prime Minister Benjamin Netanyahu and challenger Gadi Eisenkot both pledged on Wednesday to form a government following a national election in the wake of the Oct. 7 Hamas attack. Israelis turned out in record numbers on Tuesday, partaking in the highest voter turnout in decades to voice their opinions on Netanyahu's 15-year rule.

The exit polls showed Eisenkot's opposition bloc closely matched Netanyahu's hard-right camp, with neither party achieving a parliamentary majority. Arab Israeli parties experienced significant gains, with voter turnout notably higher among Arab constituents. Netanyahu, at a Jerusalem convention center early Wednesday, called for a "strong government of the right" while insisting the "Jewish and Zionist majority must unite."

He also suggested a potential third bombing campaign against Iran, a plan initially supported by the United States. Eisenkot, speaking to his supporters in Tel Aviv, warned against using Israel's security for political gains, calling Netanyahu a "caretaker prime minister without a mandate or the people's trust." Netanyahu has been under scrutiny for his alleged involvement in the International Criminal Court and domestic corruption charges.

Eisenkot, a political newcomer and the first leader of Middle Eastern or North African descent, pledged to create a more inclusive atmosphere in Israel and rein in extremist settlers in the West Bank. Despite both candidates listing roughly 51 seats each, a coalition government remains uncertain, as Israeli Arab lists, projected to win 17 to 18 seats, are seen as crucial in forming a viable government.