Vance "Gaza hostage release deal, Biden administration expected to reach last-minute settlement"

U.S. Vice President-elect Mike Vance has predicted a deal to free Hamas hostages in Gaza could be reached at the end of the Biden administration.

"I'm hopeful that a deal will probably be reached on or before the last day of the Biden administration," Vance said in a Fox News interview recorded on the 11th local time and aired the following day.

He also cited President-elect Donald Trump's threat to pay Hamas dearly as the reason for the progress made in relation to the release of hostages.

"It's because Hamas is scared that if a deal is reached regardless of the time of the deal, it will come at a cost," he added.

Earlier, Trump has warned Hamas that there will be a "great price" if Israel's hostages are not released by the 20th of this month, his inauguration day.