PRIME Minister Anthony Albanese has hailed steps toward a ceasefire in the Middle East during a G20 virtual summit.

Israel’s government and Hamas have agreed to a truce for at least four days to allow aid into the Gaza Strip and the release of at least 50 hostages captured by militants in exchange for at least 150 Palestinians jailed in Israel.

Australia is “deeply concerned by the conflict in the Middle East,” Mr Albanese said during his opening remarks to the online meeting hosted by Indian Prime Minister Narendra Modi.

“Australia has consistently called for the release of hostages, for humanitarian access and for the protection of civilian lives,” he said.

“We have wanted to see the next steps towards a sustainable ceasefire which cannot be one-sided.”

Hamas, considered a terrorist group by the Australian government, has said the ceasefire is set to start on Thursday at 10am (7pm AEDT).

“What we see today is progress towards each of these goals and we welcome it,” Mr Albanese told the meeting, where other speakers included Canadian Prime Minister Justin Trudeau and Russian President Vladimir Putin.

“Russia’s invasion of Ukraine must end,” Mr Albanese also said, lamenting the “adverse impacts of wars and conflicts around the world”.

Mr Putin referred to the war in Ukraine as a tragedy.

“Yes, of course, military actions are always a tragedy,” Putin told the G20 leaders.

“And of course, we should think about how to stop this tragedy,” he added.

“By the way, Russia has never refused peace talks with Ukraine.”

The host of the meeting, Mr Modi, wraps up his presidency of the G20 this year.

Brazil will take over the presidency of the grouping on December 1 and hosts the 2023 summit.