Russia is enthusiastic about contributing to the signing of a peace deal between Azerbaijan and Armenia. President Vladimir Putin, who is in Baku on a two-day trip, said Monday.

During a meeting with Azerbaijani President Ilham Aliyev in Baku, Putin affirmed Russia’s willingness to engage in the peace process to the extent deemed appropriate by both Armenia and Azerbaijan.

“While Russia faces its own crises, particularly in the Ukrainian direction, our historical involvement in the South Caucasus, especially in recent years, underscores our need to participate in these events, naturally, as much as the parties require,” Putin said.

He further added: “If there is any role we can play in facilitating the signing of a peace agreement between Azerbaijan and Armenia, advancing the delimitation and demarcation of borders, or unlocking economic and logistical opportunities, we would gladly do so.”

Putin also mentioned that following his visit to Azerbaijan, he would contact Armenian Prime Minister Nikol Pashinyan to brief him on the outcomes of the talks.

“I am aware that Azerbaijan aims to finalize all settlement procedures,” he noted.

In addition, Putin praised the development of Baku, describing the city as evolving into a “trade oasis” in the region.

Discussing bilateral cooperation, Putin acknowledged that the trade turnover between Russia and Azerbaijan has yet to reach its full potential.

Aliyev, for his part, emphasized that the Declaration on Allied Cooperation, signed by Azerbaijan and Russia in February 2022, has been successfully implemented across political and economic sectors, contributing positively to the partnership.

“We cooperate in energy and transport, placing special attention on humanitarian collaboration, along with many other areas. Today, we will review the agenda in detail once again. I am confident that this visit will be both pleasant for you and beneficial to our relations,” Aliyev said.

Addressing the situation in the Karabakh region, Aliyev noted that after September last year, “a completely new situation has been created in the region – Azerbaijan has fully restored its sovereignty and territorial integrity.”

“Naturally, the new situation opens up new opportunities for establishing lasting and long-term peace in the South Caucasus,” he stressed.

The president also highlighted the importance of Russia and Azerbaijan for the stability and security of the entire South Caucasus.

Tensions flared up on Monday as Armenia fired on Azerbaijani army positions for the fourth time in the past week.

Turning to the North-South transport project, Aliyev described it as “extremely important for interstate relations, as well as for regional transport corridors and routes.”

The railway and automobile segments of the North-South corridor have been fully implemented and are functioning successfully in the territory of Azerbaijan, Aliyev said.

“At the moment, we are actively engaged in upgrading the railway section of this corridor in order to increase its capacity,” he said, noting that up to 30 tons of goods can be transported annually using the existing infrastructure.

“Again, I must say that this year we have already provided funds of about $120 million (in dollar equivalent) for the modernization of this railway section in order to reach the required capacity,” he said.

Putin, in turn, reiterated Russia’s interest in taking part in this project, saying its implementation will allow the regional countries to reach the shores of the Indian Ocean, which will be beneficial for all involved parties.