"We, the Leaders of the Group of Seven (G7), fully endorse" the truce plan "that would lead to an immediate ceasefire in Gaza, the release of all captives, a significant and sustained increase in humanitarian assistance for distribution throughout Gaza, and an enduring end to the crisis, with Israel's security interests and Gazan civilian safety assured," read the statement.

"We call on Hamas to accept this deal, that Israel is ready to move forward with, and we urge countries with influence over Hamas to help ensure that it does so," it continued.

The three-phase proposal, which Biden presented Friday as an Israeli initiative, is intended to end the war, free all captives and lead to the reconstruction of the Palestinian territory without Hamas in power.

It begins with a six-week complete ceasefire that would see Israeli forces withdraw from all populated areas of Gaza.

The G7 countries are the United States, Canada, Japan, France, Germany, Italy and Spain.