US Secretary of State Antony Blinken on Sunday warned his counterparts from the G7 countries that an attack by Iran and Hezbollah against Israel could commence as early as Monday, Axios reported quoting three sources privy to the development. 


However, Prime Minister Benjamin Netanyahu-led Israel government could also consider launching a preemptive strike to deter Iran if it uncovered airtight evidence that Tehran was preparing to mount an attack, according to a report by Times of Israel.


As per the report, heads of Israel's leading intelligence agencies Mossad and Shin Bet along with Defence Minister Yoav Gallant and IDF Chief of Staff Herzi Halevi were part of a meeting called by Netanyahu. 


The assessment that Iran is likely to attack Israel soon follows came on the heels of last week's back-to-back assassinations of Hezbollah military chief Fuad Shukr in Beirut and Hamas leader Ismail Haniyeh in Tehran. Iran has blamed Israel for both deaths and has vowed to retaliate.


Tehran said Hezbollah will escalate its attacks deeper into Israeli territory, potentially targeting more than just military installations. Lebanon's Hezbollah represents Iran's first proxy in the Middle East and shares Tehran's core ideology. Established in the early 1980s with Iranian support, the organisation is funded and armed by the Islamic Revolutionary Guard Corps (IRGC) and recruits primarily from Lebanon's Shiite Muslim population.


With major military action from the Hezbollah movement and others widely expected, Israeli Defence Minister Yoav Gallant said: "If they dare to attack us, they will pay a heavy price."


The intensity of the current situation led to urgent calls for foreign nationals to leave Lebanon, which would be on the front line of a regional war. Hezbollah has traded near-daily fire with Israeli forces since the Gaza war broke out in October, triggering the ongoing war.


In response to these developments, Antony Blinken convened a conference call with G7--Canada, France, Germany, Italy, Japan, the United Kingdom and the United States-- foreign ministers to coordinate diplomatic efforts aimed at de-escalating the situation.