Palestinian President Mahmoud Abbas accepted Russian President Vladimir Putin's proposal of engaging in direct dialogue with Israel in Moscow, and said Palestine is willing to work with Russia and the US to bring about an end to conflicts.

Putin said on Thursday that the peaceful co-existence of Palestine and Israel is an "indispensable condition" for security and stability in the Middle East. 

Putin said that Moscow will continue to support the resumption of direct dialogue between Palestine and Israel.

Putin made the comments after talks with Abbas in the Russian city of Sochi.