For many years, the leaders of Egypt and Jordan were on the American payroll for making peace with Israel. American dollars bought fake friends for Israel. This may no longer be the case for Egypt. Since it was Mubarak's most cherished policy, it is quite likely to be changed. Israel will bluster and threaten at this change of policy, but they can safely be ignored, and should be ignored.
U.S. warns governments, bankers Iran sanctions still in place (Reuters)
from the article: Egypt considers easing Gaza blockade, says diplomat