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Ammon News - Israel and Lebanon are on the verge of a ceasefire agreement to end the Israel-Hezbollah conflict, two senior Israeli officials and two U.S. officials tell Axios.

The agreement would also allow hundreds of thousands of civilians on both sides of the border to gradually return home.

The draft ceasefire agreement includes a 60-day transition period during which the Israeli military would withdraw from southern Lebanon, the Lebanese army would deploy in areas close to the border and Hezbollah would move its heavy weapons north of the Litani River, according to Axios.

The draft agreement includes a U.S.-led oversight committee to monitor implementation and address violations.

The U.S. has agreed to give Israel a letter of assurances that includes support for Israeli military action against imminent threats from Lebanese territory, and for action to disrupt things like the reestablishment of a Hezbollah military presence near the border or the smuggling of heavy weapons, Israeli and U.S. officials say.

Under the agreement, Israel would take such action after consultations with the U.S., and if the Lebanese military did not deal with the threat.

The agreement was nearing completion last Thursday when the International Criminal Court issued arrest warrants against Israeli Prime Minister Benjamin Netanyahu and his former defense minister, Yoav Gallant, U.S. and Israeli officials say.

Netanyahu held a meeting about the ceasefire talks on Sunday that included several senior ministers and intelligence chiefs, Israeli officials say.

A decision was taken to move towards the agreement, according to one senior Israeli official, who said an announcement could come this week.

A second Israeli official who attended the meeting said "the direction is positive" but that several issues remained unresolved and it's not a done deal.

Two senior U.S. officials with direct knowledge of the issue said the parties were getting close to a deal, but it was not completed.