Since first visiting the country in 2014, the Russian Grand Prix has been held at the Sochi Autodrom at the Black Sea resort in Alder that hosted the 2014 Winter Olympics.

Sochi will stage its last F1 race next year before the event moves to Igora Drive, which recently gained the FIA Grade 1 licence required to host grand prix racing.

The 4.086km, 16-turn venue which is located just 54 kilometres from Saint Petersburg, Russia’s second-largest city, broke ground in 2017 before officially opening in 2019, and was designed by F1 architect Hermann Tilke.

F1 CEO Stefano Domenicali recently visited the area ahead of the announcement which was made by the venue.

“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,” Domenicali said in a statement released by the circuit.

“I am impressed by Saint Petersburg and believe that the Russian Grand Prix at Igora Drive will be an incredible event.”

Igora Drive had a deal in place to host the DTM and W Series in 2020 but both races were cancelled following the outbreak of the COVID-19 pandemic. 

An F1 statement said: "Formula 1 is delighted to confirm that the Russian Grand Prix will move to the Autodrom Igora Drive in St Petersburg from 2023.

"We are looking forward to racing in a hugely exciting location that includes 10 professional tracks for racing and testing over approximately 100 hectares. It is located 54 km from Saint Petersburg, was designed by German architect Hermann Tilke and in 2020 received it’s FIA Grade 1 license.

"We will be providing more details on the race in the coming months and we are looking forward to racing in Sochi for the next two years."