On 27 June 2016, Turkey and Israel announced a deal to resolve the diplomatic crisis stemming from the Mavi Marmara incident of 2010. The countries also upgraded diplomatic relations to ambassadorial level. It is unlikely that Israel and Turkey will return to the level of the strategic, military, and political cooperation of the 1990s. However, the recent thaw provides opportunities for both countries in an increasingly unstable region. The future of bilateral relations will depend on the successful exploitation of economic opportunities, navigation through risks to regional security, and the stabilization and amelioration of the humanitarian and political crisis in Gaza.