Over 900 people have been killed so far and thousands were wounded in the surprise attack by Palestinian terror group Hamas on Israel.
Further, the Islamist terror outfit has also taken over 100 hostages.
In response, Israel has declared war on Hamas and launched mass strikes in the Gaza strip, targeting the officials of the terror group.
Here are the key highlights that you need to know:
Israeli strikes in Gaza enter fourth day
The Israel Defence Forces (IDF) are continuing their air strikes in the Gaza Strip as Prime Minister Benjamin Netanyahu has warned that Israel’s response to Hamas’ massacre in Israel on Saturday “will reverberate with them for generations.”
Local media had earlier reported that Israel hit 1,707 targets in Gaza since Saturday, including 475 rocket systems, 73 command centres, 23 strategic infrastructure sites and 22 underground targets.
Rocket firing into Israel from Gaza continues
Despite the Israeli stirkes, rockets are regularly being fired from the Gaza Strip into Israe.
According to local Israeli media, rockets were fired sporadically throughout the day on Gaza border communities, as well as far north as the Sharon area near Netanyah, as well on Tel Aviv and Jerusalem.
Hamas threatens to kill hostages
The Hamas has announced that it is holding more than 130 Israeli prisoners.
Hamas' armed wing said on Monday it will begin executing an Israeli civilian captive in return for any new Israeli bombing of civilian houses without pre-warning.
According to local Israeli media, Hamas armed wing spokesman Abu Ubaida said they have been acting in accordance with Islamic instructions by keeping the Israeli captives safe and sound, blaming the intended move on Israel's stepped-up bombing and killing of civilians inside their homes in air strikes without warning them.
European Union backtracks on Palestinian aid
The European Union clarified on Monday that aid payments for Palestinians will not be suspended, following comments by one of its officials, who said payments will be halted.
Oliver Varhelyi, the European Commissioner for Neighborhood and Enlargement, said in a series of posts on social media that the Commission is suspending all Palestinian funding until further review in light of the Hamas attack on Israel.
In a statement released after his remarks, the European Commission said it is "launching an urgent review of the EU's assistance for Palestine," but "this review does not concern humanitarian assistance provided under European Civil Protection and Humanitarian Aid Operations (ECHO)."
"In addition to the existing safeguards, the objective of this review is to ensure that no EU funding indirectly enables any terrorist organisation to carry out attacks against Israel," the Commission said.
The EU Commission added that it "unequivocally condemns the terrorist attacks carried out by Hamas against Israel over the weekend".
Following Varhelyi's comments, Janez Lenarc, the European Commissioner for Crisis Management, said humanitarian aid for Palestinians will indeed continue.
"While I most strongly condemn the terrorist attack by Hamas, it is imperative to protect civilians and respect international humanitarian law," Lenarc said.
"EU humanitarian aid to Palestinians in need will continue as long as needed," Lenarc added.
Iran and Hezbollah will join the battle if..": Hamas
Hamas said that its allies like Iran and the Lebanese Hezbollah may join the "battle" if the situation escalates.
Ali Barakeh, a member of Hamas’ exiled leadership, told The Associated Press in his Beirut office, that Iran and Hezbollah “will join the battle if Gaza is subjected to a war of annihilation".
He also claimed that only a small number of top commanders inside Gaza knew about the wide-ranging incursion launched into Israel.
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