Finance Minister Yair Lapid warned Hamas Thursday not to test Israel's mettle by renewing rocket attacks on the Jewish state.

"Fifty-one hours into the ceasefire, Hamas is threatening that it will go back to firing missiles if we do not surrender to its demands,” Lapid said in a press conference. “I say here: let them not try us. The IDF is ready and prepared, the Israel Air Force is ready and prepared. Any fire will be met with a heave volley of fire.”

Earlier Thursday, Foreign Minister Avigdor Liberman told US Secretary of State John Kerry that the announcement by the Palestinian negotiating team in Cairo, that it cannot commit to continuing the ceasefire, is an act of “blackmail.” Israel is taking this into account, he said, and is prepared for all possibilities.

Senior Hamas terrorist Ismail Radwan said Wednesday that no agreement has been reached regarding the extension of the 72-hour ceasefire that is to expire Friday morning.

"We will not let up, until the enemy agrees to the terms we have laid down,” he said, and threatened to renew the fire.

"Our demands have been relayed to the Egyptian side and it has relayed them to the Israeli side,” Radwan said. “Until this moment, no response has been received to these demands. The hand of the military wing and the Resistance is still on the trigger,” Radwan told an Egyptian TV station.