Russian President Vladimir Putin (left) with his Azerbaijani counterpart Ilham Aliyev in Baku on Monday (Kremlin photo)

BAKU—Russia will continue assisting Azerbaijan and Armenia to help them forge a compromise and a mutually acceptable peace formula to end the Nagorno-Karabakh conflict, Russian President Vladimir Putin said Monday during while visiting Azerbaijan to meet with Azerbaijani and Iranian counterparts.

“This is a problem we inherited from our Soviet past. I know this is a thorny issue for both Azerbaijan and Armenia. We will strive to ensure that Armenia and Azerbaijan find a compromise solution acceptable for both sides,” Putin was quoted as saying by the Russian news agency, RIA Novosti.

“There should be no winners or losers. The winners should be the peoples of the two countries, so that they feel they have solved this challenge for the benefit of today’s and future generations,” added Putin.

In an earlier interview with an Azerbaijani news agency Putin said Moscow is not trying to impose some ready-made solutions upon Armenia and Azerbaijan, adding that the sides should reach an agreement and find mutually acceptable solutions independently, without external pressure.

“Reaching a compromise means finding an optimal balance between the principles of territorial integrity and the right of peoples to self-determination. We are fully aware of the responsibility that rests on the shoulders of the Armenian and Azerbaijani leadership. We welcome the constructive approach that prevailed during the latest summit on the conflict settlement held on June 20, 2016, in St. Petersburg,” Putin said on Monday in an interview with the Azerbaijani press.

“The final goal of the conflict resolution should be an agreement with no winning or losing sides, with mutual concessions and benefits for both sides that are clear to the public in both Armenia and Azerbaijan. In its turn, Russia is ready to support a solution that would be acceptable to all parties involved and, together with other mediators, to act as a guarantor of the settlement,” said Putin.

During a press conference, Aliyev thanked Putin for his leadership in advancing the peace process.

“I would like to emphasize Russia’s role in the resolution of the Armenian-Azerbaijani Nagorno-Karabakh conflict,” he was quoted as saying by RIA Novosti news agency.

The Russian leader is scheduled to meet with Armenian President Serzh Sarkisian on Wednesday in Moscow.

Following the Putin-Aliyev meeting, the two leaders met with Iranian President Hassan Rouhani. The three leaders signed a declaration to expand and develop cooperation among the three nations bordering Armenia.