Pete Sutcliffe will resign as Minister for Business and Enterprise and Peter Sutcliffe will step down from the Cabinet.
Mr Sutcliffe, who was appointed to the portfolio in December, will be replaced by a new Minister for the Economy and Skills.
Mr Sutclards resignation comes after an inquiry into allegations that Mr Sutcliffe and his associates made illegal payments to a Russian business group for the election of Mr Trump.
The inquiry is currently ongoing.
Mr Trump’s campaign, as well as Mr Sutclards son-in-law Jared Kushner, also participated in the illegal payments, which were made in the summer of 2016, according to the report by special counsel Robert Mueller.
A spokesman for Mr Sutcleys office did not immediately respond to a request for comment.
Mr Mueller said he is examining the payments as part of his inquiry into alleged Russian interference in the US election.
Mr Kusher’s lawyer, Benjamin Brafman, said Mr Sutck was being investigated for his involvement with a Russian company that had “committed fraud, corruption and money laundering.”
“I’m hopeful that this investigation will conclude fairly, and that the findings will provide a clear picture of Mr Sutccly’s actions and those of his associates,” Mr Brafman said.
Mr Brodman, who is also a lawyer for Mr Kushner, has said that Mr Kushner and his father-in, Mr Sutkis son, were in no way involved in the campaign to elect Mr Trump, and were “never involved in any improper activities” with Russia.
“This is not about Jared Kushner or his father in particular, this is about a political campaign,” Mr Brodmann told ABC News.
Mr Justice Robert Wilkins also said Mr Brodsons son, who attended his son’s wedding, had not been involved in illegal payments.
The former President, however, is said to be “sad” about the investigation.
Mr Bredman said Mr Trump is “deeply disappointed” with the investigation into Mr Sutcellons dealings with the Russian company.
“We don’t know the extent of the information that has been released to date, so I would expect that the President would be deeply disappointed with this development,” Mr Bredmans lawyer said.