The latest 48-hour Israeli escalation against the besieged Gaza Strip cost Israel around $33 million, the Israeli military announced on Wednesday.

Local sources told Al-Khaleej Online that the cost included the use of “Iron Dome missiles, air force fighter jets and naval facilities”.

On Monday violence broke out between Palestinian Resistance factions and the Israeli Army following the death of seven members of the Al-Qassam Brigades after Israeli special forces infiltrated the east of Khan Yunis province on Saturday. The conflict resulted in the death of an Israeli officer and injured another.

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Al-Qassam responded by firing rockets into the settlements and communities surrounding Gaza. The Israeli army said that around 400 rockets and mortars were fired from Gaza, adding that the enclave’s warplanes bombed Israel 100 times.

On Tuesday a United Nations Security Council meeting ended without resolution, however Egypt later succeeded in securing a ceasefire.

The ceasefire announcement brought a lull to the outbreak of violence between both sides, however Israelis were outraged over what they described as “the surrender of the [Israeli] government”.