Igora Drive, a new circuit located near St. Petersburg, will reportedly take over from Sochi as the home of the Russian Grand Prix from 2023.
The news was announced by the new venue itself and has yet to be officially confirmed by Formula 1.
Designed by Hermann Tilke, Formula 1's resident architect, the 4 km, 15-turn Igora Drive track was constructed in 2017 and received its Grade 1 licence from the FIA last year.
The venue was due to host a round of the German DTM series last year but the event was canceled due to the coronavirus pandemic.
"I am pleased to confirm following joint intensive work with our Russian partners and detailed assessment of Igora Drive – Formula 1 will be racing at that amazing circuit from 2023," said F1 boss Stefano Domenicali in a statement released by Igora Drive.
"I am impressed by Saint Petersburg and believe that the Russian Grand Prix at Igora Drive will be an incredible event."
Russia became a destination for Formula 1 in 2014, racing every year in Sochi along the shores of the Black Sea on a track built on the site of the 2017 Winter Olympics.