On Friday August 11th, the United Nations Security Council passed resolution 1701 (read text). While presented as a call for a ceasefire the resolution actually only calls for the "cessation by Hezbollah of all attacks and the immediate cessation by Israel of all offensive military operations", without actually calling for the halt in Israel's attacks on Lebanon, which both the US and Israel claim to be defensive. The resolution also calls for the disarming of Hezbollah and demands that Lebanon and UNIFIL to deploy forces to South Lebanon.

While both Israel and the government of Lebanon have said they agree to the resolution, Israel has escalated its movement of ground troops into Southern Lebanon and won't officially agree to the resolution until Olmert to presents resolution to his cabinet on Sunday. On Saturday, Israel's military said it had begun "broadening" its ground offensive and had tripled the number of its troops in southern Lebanon.
Israel's army chief, Lt Gen Dan Halutz, said Israeli troops will remain in Lebanon until the arrival of the UN peacekeeping force and Nasrallah has said Hizbullah will keep fighting as long as Israeli troops are occupying South Lebanon. Since few countries will send in peacekeeping troops while fighting is going on, it is not clear if the UN resolution will do anything to prevent more bloodshed.

Peace deal at UN is clouded by Israeli ambiguity | Israeli Response to UN Ceasefire Call: Invades with 30,000 more Troops, Races for Litani | Israel presses on with offensive despite deal | UN calls for peace as fighting continues | Israel: Lebanon offensive will continue | Olmert to present resolution to cabinet on Sunday | Israeli soldiers seize Lebanese barracks | Israel asks U.S. to ship cluster bombs quickly