The huge country is already scheduled to join the 2014 calendar, with the federal government allocating almost $200 million for a new circuit in the coastal city Sochi.

But an official has hinted that, if the Sochi event is ultimately not successful, the formula one race could be moved 1300 kilometers to Moscow.

Three years ago, work began on a $215 million formula one-style circuit in Volokolamsk, 80 kilometers west of the Russian capital.

"The Volokolamsk circuit is fully in line with formula one safety requirements," Russian motor racing federation vice-president Igor Yermilin told Sovietsky Sport.

"However, some additions to the infrastructure would be needed, particularly as far as the VIP (section) goes.

"A (decision to) transfer the Russian grand prix will depend upon the commercial success of the race in Sochi," he explained.

"If the race is successful, there will be no talk of moving it elsewhere.  If not, it would be more profitable to hold (the race) in the Moscow region as of 2017 or 2018."