A cease-fire agreement between Israel and Iranian-backed Hezbollah militants in Lebanon is reportedly very close, according to a regional source.

U.S. and Israeli officials caution that a deal is not yet final, but Israeli Ambassador to the U.S. Mike Herzog said Monday that the two sides are "close to a deal" and that it "can happen within days."

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A U.S.-brokered proposal is calling for a 60-day pause in the fighting, with hopes that it could result in a lasting cease-fire. Analysts say Hezbollah is under domestic pressure to end the fighting and potentially receiving some pressure from Iran.

The latest cease-fire would be based on the United Nations Security Council Resolution 1701, which would require Israeli troops and Hezbollah militants to withdraw from the region along the Israel-Lebanon border.

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However, there are a number of sticking points surrounding a potential cease-fire, including Israel's objection to any French involvement in implementing this specific deal.

That's because France has said it would cooperate with recent arrest warrants issued by the International Criminal Court against Israeli Prime Minister Benjamin Netanyahu and former Israeli defense minister Yoav Gallant, who was dismissed from his post earlier this month.

The ICC accused the leaders of war crimes and crimes against humanity. Israel objected to the court's jurisdiction but was ultimately ruled against.