Israeli Prime Minister Benjamin Netanyahu told a Knesset Foreign Affairs and Defense Committee meeting on Monday that Israel will review its ability to act against Iran once the new U.S. administration takes over.

At the start of the discussion, the prime minister said that while the war is being waged on seven fronts, "It has one source — Iran … [whose] goal is the destruction of the State of Israel," according to a Knesset readout.

Netanyahu detailed three threats from Iran: its proxies, such as Hamas and Hezbollah, its ballistic missiles and its nuclear program.

"Our ability to act against these three threats will be evaluated in the near future together with the incoming administration in Washington," he said.

With regard to Iran's "axis" of proxy forces, the prime minister said Israel was "systematically dismantling" it, noting that the Israel Defense Forces has made "great progress" in degrading Hamas' military capability but only "partial progress" in destroying its rule over the Gaza Strip.

Hamas' lifeline is its control over the distribution of food and humanitarian aid in Gaza, he said, but Israel is working to see that international elements take over that distribution.

With regard to Hezbollah in Lebanon, Netanyahu said that negotiations are being conducted with the United States to create conditions for an arrangement, but that Israel will not stop its military campaign during those talks.

"Israel's basic conditions are distancing Hezbollah from the border, preserving Israel's freedom of action and closing the oxygen pipeline through the Syrian border to prevent future armament" from reaching the terrorist group, Netanyahu said.

Regarding the second threat — Iran's ballistic missiles — the prime minister described the decision-making process behind Israel's retaliation to the Iranian missile attacks on Israel in April and October.

Netanyahu clarified that the decision not to attack certain targets within the Islamic Republic hadn't stemmed from U.S. pressure.

Netanyahu also discussed ongoing negotiations for the return of the hostages being held by Hamas in Gaza, rejecting Israeli media reports that he had prevented a deal. He noted that the Biden administration also recently made clear that the only obstacle to an agreement was Hamas.

Hamas' conditions for a cease-fire are the total withdrawal of IDF forces from the Gaza Strip, international guarantees that fighting would not be renewed and that it be allowed to remain the controlling force in Gaza, Netanyahu said, noting that these conditions were unacceptable not only to the Cabinet but to the Foreign Affairs and Defense Committee.

If Israel were to accept these conditions, he said, the next round of fighting would only be a matter of time.

He revealed that contacts with Hamas were ongoing regarding a smaller hostage deal. He also noted that Israel has offered a large cash reward for anyone who releases a hostage, as well as safe passage out of Gaza for that person and their family.

He stressed that voices within Israel accusing the political echelon of sabotaging negotiations are false and undermine efforts to secure their return. In negotiations, he said, it is important to present a united front, and Hamas would not be flexible if it hears Israeli voices calling to end the war.