Prime Minister Benjamin Netanyahu stressed that Israel “will not annex Gaza” and plans to transfer control of the territory to a “transitional governing body,” according to The Times of Israel.

Netanyahu added that Israel intends to take military control of the entire Gaza Strip and eventually hand it over to armed forces that will govern it properly.

"We want to have a security perimeter. We don't want to govern it. We want to hand it over to Arab forces that will manage it properly, without threatening us, and [ensure] a good life for the residents of Gaza," he said. Netanyahu reiterated Israel's key objectives: the complete dismantling of Hamas and the unconditional return of all remaining hostages. 

He assured that the conflict could end quickly if Hamas laid down its arms and released the hostages.

Israel's security cabinet is scheduled to meet later today for an important discussion on whether to proceed with a full-scale military occupation of the Gaza Strip.