"The deterioration of relations between the European Union and Russia has resulted in significant losses, and it is time to put an end to it," Szijjarto said during a meeting with First Deputy Chairman of Russia's Council of the Federation Nikolay Fedorov.
He also expressed hope that Russia would fruitfully cooperate with the new US administration, adding that in this case the European countries would also "start to cooperate and rely on the EU representatives, interested in the improvement of relations and cooperation with Russia."
Earlier in the day, Szijjarto said Russia and Hungary could cooperate effectively despite hindrances created by anti-Russia sanctions.
Brussels-Moscow relations have deteriorated after Crimea rejoined Russia in early 2014. The European Union and the United States also imposed a series of sanctions on Russia over its alleged involvement in the conflict between the Kiev authorities and the militia in the east of Ukraine. Moscow has repeatedly denied the accusations.