"It would be strange if Russia thought of itself as of the only mediator," Sergei Prikhodko said.
Israel launched a military operation in Lebanon after Lebanon-based Islamist group Hizbollah movement took two Israelis hostage on Wednesday. At least 55 Lebanese civilians were killed. Israeli aircraft also bombed the Gaza Strip.
"I do not expect individual initiatives, different from initiatives of the international community," he said. "But Russia enjoys traditional authority in the Middle East and we will be using this authority and our interaction to prevent the further escalation of the situation - to transform it into a negotiating channel and to create all necessary conditions to stop the violence as soon as possible."
Prikhodko said Russia's top priority was cooperation with its colleagues in the implementation of the 'road map' worked out by the Quartet of mediators - Russia, the EU, U.S. and UN - as well as in other spheres.
Earlier Friday President Vladimir Putin condemned hostage taking as means of resolving problems and the use of force in response to such actions.
"We will urge all the sides involved in the conflict to stop the bloodshed immediately," he said.
Putin said he planned to discuss the issue with U.S. President George Bush, who has just arrived in St. Petersburg for a summit of the Group of Eight industrialized nations and bilateral talks with his Russian counterpart.
The leaders of France, Germany, Italy, the United Kingdom, Japan and Canada are expected to arrive in St. Petersburg for a three day summit Saturday.
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