Qatari mediators hand Iran new proposal to end the war

Qatari mediators on Sunday presented Iran with a new draft deal aimed at ending the eight-month conflict, according to Reuters citing an official briefed on the negotiations. Tehran is currently considering the proposal and has committed to providing a response by the end of the week.

The development comes as Israel held a national election on Tuesday that was heavily influenced by the ongoing war with Iran. Exit polls indicated that a majority of Israeli voters opposed Prime Minister Benjamin Netanyahu's coalition, though his Likud party remained the largest single party in the contest.

War costs mount

The financial burden of the Iran war has escalated to an estimated $47.1 billion as of mid-October, according to figures from U.S. Central Command obtained by CBS News. This figure does not include damage to U.S. military bases in the region, with $29 billion of the total attributed to replacing expended munitions.

The Congressional Budget Office projected in September that the conflict could continue to cost between $2 billion and $3 billion monthly for the duration of hostilities.

Israeli election stalemate

Israel's election resulted in a political stalemate, with neither Netanyahu nor his opposition bloc securing a clear majority in the 120-seat Knesset. Both major candidates are expected to struggle to form a governing coalition without relying on Arab parties, which won more seats than in any previous election.

Both Netanyahu and those opposing him have vowed not to form a government reliant on Arab parties, arguing it would endanger the country if they gain enough seats to influence Israel's engagement in its myriad conflicts.