A post-World War II peace treaty between Russia and Japan is possible if bilateral relations deepen through planned joint economic activities on a group of Moscow-held islands claimed by Tokyo, Vladimir Putin said Friday.

The Russian President revealed his thoughts on the matter in an interview with Kyodo News and other news agencies, the first such occasion involving Japanese media since he won re-election in March.

Putin and Japanese Prime Minister Shinzo Abe, due to meet in Moscow on Saturday, are expected to agree to accelerate preparations for the joint economic activities they have decided to conduct on the islands off Japan's northernmost main island of Hokkaido.

Putin reiterated that the only solution to a bilateral territorial row would be through Russia's return of the two smaller ones -- Shikotan and the Habomai islet group -- after the conclusion of a peace pact in line with the 1956 Japan-Soviet Joint Declaration.

"Japan unilaterally rejected the implementation" of the agreement, Putin said.

Tokyo maintains that the islands -- called the Northern Territories in Japan and the Southern Kurils in Russia -- are inherent Japanese territory and were illegally seized by the Soviet Union following Japan's surrender in August 1945.

The spat, also involving the larger Etorofu and Kunashiri islands, has kept the countries from concluding a bilateral peace treaty.

But Russia will look for a compromise that both sides will be able to accept, Putin said.

The president said Russia will work to promote visa-free visits to the disputed islands by former residents by removing all restrictions.

The visa-free program began in 1992 as part of efforts to promote relations between present and former residents of the islands and deepen mutual understanding.

In the interview, the Russian president also signaled his intention to step down after his current term expires in 2024, saying he will respect the Russian Constitution which bans any president from serving more than two successive terms.

Putin has been in power since becoming president for the first time in 2000, including the period from 2008 to 2012 when he served as prime minister. He won a fourth term in a landslide victory in March, extending his rule for six more years.

He also said the desired crude oil price for Russia is $60 per barrel. The country's economy relies heavily on output of gas and oil.