Much discussion has already been had regarding whether Hezbollah will join the war to help Hamas, with conclusions ranging from full involvement to partial support to no support at all.
Caspian Report is trying "to make sense of an increasingly complicated world by cutting through the noise and analyzing geopolitical trends."
Their latest video report tackles the question of whether Hezbollah will intervene to support Hamas, as both are supported by Iran and are seen as Iranian proxy groups by the majority of the world.
They spend the first part of the video providing background and explaining the origins of the current war, as well as running through the ongoing skirmishes occurring near the Lebanese border.
So, will Hezbollah intervene in favor of Hamas?
Ultimately, they don't see Hezbollah joining as likely, however, they do say in what scenario Hezbollah would most likely join and why.
"Iran didn't build up Hamas over the years, only to leave it alone to deal with Israel's devastating counter-offensive."
As a result, if Hezbollah were to attack they believe it is most likely to occur during an Israeli assault on Gaza and will happen at a time most convenient to Hezbollah rather than Hamas, citing the 2006 war as evidence of previous success of this strategy.
However, they are careful to say that it would be wrong to judge Hezbollah based on its 2006 performance as they have massively expanded their arsenal of weapons, enough to even cause trouble for American carriers with anti-ship missiles.
Why has Hezbollah not gotten involved?
"If Hezbollah and Iran have such an advantage, then why haven't they already unleashed hell?"
To answer this question Caspian Report delves into two main aspects of Hezbollah, its position in Lebanese politics and the role it holds in the greater Iranian strategy.
They remind us that Hezbollah is also a political party within Lebanon and has been legally part of the Lebanese government since 2005. Currently, Lebanon is experiencing an extreme economic crisis and a war with Israel would only deepen this crisis.
This leads them to conclude that Hezbollah would prefer to remain politically strong and well-liked by the Lebanese public, rather than induce increased internal tensions inside Lebanon.
The next factor is their place within Iranian strategy. Hezbollah acts as an important linchpin for Iranian strategy in the Middle East with their vast arsenal of weapons being a huge threat to Israel.
It is exactly for this reason that Caspian Report believes it unlikely that Iran will deploy said arsenal.
"Employing that firepower in the current Gaza conflict would mean depleting it as a means of deterrence, thereby neutralizing its role as a deterrent," they say.
This shows Hezbollah as a single-use deterrence, one which can cause extreme damage to Israel and the United States, but one which can only be used once before needing significant time to recover its power.
Using this deterrent over the conflict in Gaza would then leave Iran open to reprisals from the United States, negating the exact reason for maintaining Hezbollah in the first place.
Leaving the ongoing skirmishes as little more than attempts to keep the specter of Iranian involvement alive and keep Israel distracted in its war in Gaza.
Caspian Report concludes by saying that while Iran may have turned Hamas into the deadly organization it is, Iran cannot afford to lose Hezbollah.
"If push comes to shove, it is usually better to give up a pawn if it means protecting a rook."