Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.

"We are in contact with Israel, we are in contact with Iran. We have quite trusting relations. And we would very much like this endless exchange of blows to be stopped at some point. And for such ways to resolve the situation to be found that would satisfy both sides," Putin told reporters.

"The answer to this question always lies in the search for compromises. Are they possible in this situation or not? I think so. No matter how difficult it may be, but in my opinion, it is possible."

Israel has decapitated the leadership of Iran's allies Hamas and Hezbollah in recent weeks, and Iran fired missiles into Israel on Oct 1. The region is now braced for Israel's response.

Putin said Russia was willing to get involved if both sides wanted that.

"If this is in demand, we are ready to do everything in our power in contact with both sides to help find these compromises," he said.