Economic Development Minister Alexey Ulyukayev believes that trade and investment relations between Turkey and Russia will be restored.

“Trade and investment relations with Turkey will be restored,” he said in an interview with Gazeta.ru.

The minister also said that, in his opinion, before the end of this year relations between Russia and European countries would also change.

“The European sanctions are ultimate story I think there is a high degree of probability that a decision about on their serious modification will be made by the end of this year,” he said.

Earlier it was reported that Ulyukayev will meet with Minister of Economy of Turkey Nihat Zeybekci as part of the meeting of trade ministers of Group of 20, which will be held in Shanghai (China).

On Wednesday, June 29, Russian President Vladimir Putin had a telephone conversation with his Turkish counterpart Recep Tayyip Erdogan.

Putin’s call was a response to the message of Erdogan, in which he had apologized for the downed bomber and expressed an interest in resolving the situation. The message was received in the Kremlin seven months after the tragedy with the Su-24 bomber. After the conversation, Putin instructed the government to enter into negotiations with Turkey to restore cooperation in trade and other areas.