Russian FM, Vatican Secretary of State Hold Joint Presser (VIDEO)

Russia can assist in handling the crisis in Venezuela, Parolin said.

"I think that Russia may assist in this difficult period, since this difficult situation has been lasting for a long time. Due to the fact that Russia and Venezuela maintain close relations, I think that Russia may promote negotiations," he said.

Parolin, who is on a four-day visit to Russia, noted that the Vatican considered negotiations as the only tool to mitigate the crisis in Venezuela.

In turn, Lavrov stressed that the Venezuelan crisis could be assisted by several outside parties, with a primary aim to achieve an agreement between the government and the opposition. It would allow to develop the country, taking into account the interests of all the political parties and society, he added.

"It is important that all the external forces should urge the sides which are currently opposing to each other in Venezuela to reach national accord and compromise," Lavrov said.

Venezuela is suffering from a political and economic instability that sparks numerous protests across the country. Since April, the protests escalated after the Supreme Court’s decision to restrict the powers of the National Assembly. Even though the decision was reversed, opposition supporters demand resignation of the court’s judges and holding early elections. The protests were further fueled by the July 30 election of the Constituent Assembly, which would be in charge of rewriting the country's Constitution. Venezuela's opposition, as well as the European Union and the United States, among others, have refused to recognize the body's legitimacy.

Vatican Secretary of State Cardinal Pietro Parolin is paying a visit to Russia from August 21-24 to hold meetings with Patriarch Kirill of Moscow and All Russia, President Vladimir Putin and Foreign Minister Sergei Lavrov.

Russia and the Vatican established their first state-level contacts in the late 15th century. The first Russian mission to the Vatican was accredited in 1817.