Russian President Vladimir Putin pledged on Monday to do all his country could to help normalize the situation in Palestinian territories amid the latest spiraling violence in the Gaza Strip.

In a telephone conversation initiated by the Palestinian side, Putin told Palestinian President Mahmoud Abbas that Russia would " continue taking steps and doing all it could to help normalize the situation in the Palestinian territories as soon as possible," the Kremlin said in a statement.

Abbas informed Putin of the situation of Palestinian-Israeli relations following the abduction of an Israeli soldier by Palestinian militants and the subsequent Israeli offensive in the Gaza Strip, the Kremlin said, adding Abbas thanked Putin for Russia's efforts to help resolve the crisis.

The conversation followed Putin's meeting with visiting Israeli Foreign Minister Tzipi Livni, during which the two discussed the situation in the Middle East.

Palestinian militants kidnapped the 19-year-old Corporal Gilad Shalit on June 25 during a deadly attack on an Israeli army post near the Gaza border, during which two Israeli soldiers were killed and four wounded, sparking the latest crisis between the Israelis and Palestinians.

In the wake of the raid, Israeli troops entered the Gaza Strip in the largest incursion into the coastal area since Israel pulled out forces and settlers last summer following a 38-year occupation.

Russian Foreign Minister Sergei Lavrov on Monday urged Palestinians militants to free the Israeli soldier and also called on Israel to exercise restraint in its military operations in the Gaza Strip.

"It is now most important to secure the release of the abducted Israeli soldier, and we are using every channel available for that, " Lavrov said after talks with Livni, the Interfax news agency reported.

Livni said Russia may "play a very important role" in this context and that she hoped Moscow's call for the release of the Israeli soldier would be heeded.

Earlier on Monday, Palestinian militants set Tuesday as the deadline for Israel to meet their demand for Palestinian prisoners be released from Israeli jails.

However, Israel rejected the ultimatum, saying Israel would not give in to blackmail.

Russia is a member of the international Quartet mediating for peace in the Middle East. The group's other members are the United Sates, the United Nations and the European Union.

Source: Xinhua