The "Scream Queens" actor and his "How To Lose a Guy in 10 Days" actress sister Kate Hudson were publicly disowned by Bill last month following comments they made on social media, reported Hollywood Life.
Oliver had tweeted "Happy abandonment day @katehudson" on Father's day with a photo of Bill and his younger sister Kate Hudson.
Russell, 64, believes the row was blown out of proportion.
"I understood Oliver's sense of humour and since then, there's been some nice back and forth between Bill and Oliver and that's nice to see. You want people to enjoy life as much as they can," the actor said.
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