Ceasefire and hostage-release negotiations between Israel and Hamas, brokered by Qatar, Egypt, and the US, are underway in Sharm el-Sheikh, Egypt. The talks are occurring on the two-year anniversary of the 07 October 2023 attack by Hamas into Israel, a context that raises internal political sensitivities on both sides regarding security and the conflict’s resolution. The primary objective is a sustained cessation of hostilities and the release of remaining hostages. Breakdown of talks in the near term increases the risk of renewed, high-intensity conflict, thereby elevating regional security and operational risks for businesses in the Eastern Mediterranean.