WASHINGTON (NEXSTAR) — President Joe Biden announced from the White House Tuesday that Israel and the terror group Hezbollah agreed to the U.S.-led ceasefire deal.

“Peace is possible,” President Biden said. “The fighting across the Lebanese border will end, will end.”

The agreement, which the president said takes effect Wednesday morning, aims to create safe enough conditions over the next two months to allow people to return to their homes in northern Israel and southern Lebanon, as heavy fighting still continued Tuesday.

“All told this has been the deadliest conflict between Israel and Hezbollah in decades,” President Biden said.

An international committee led by the U.S. will help monitor both sides’ compliance with the deal, but the Pentagon would not say what that entails.

“I don’t want to get ahead of the process here,” Maj. Gen. Patrick Ryder, the Pentagon press secretary, said ahead of the president’s announcement. 

Israel’s deputy foreign minister, Sharren Haskel, struck a different tone if Hezbollah violates the agreement.

“We will react immediately,” Haskel said.

President Biden said he has hope coming out of this deal but made a point to say Israel maintains its right to defend itself if Hezbollah breaks the agreement.

While this ceasefire deal would not directly impact Israel’s war with Hamas in Gaza, U.S. Secretary of State Antony Blinken remains hopeful for indirect ramifications.

“Hamas will know that it can’t count on other fronts opening up in the war,” Blinken said.