Vitaly Petrov became the first ever Russian in Formula 1, making his Renault debut at the start of the 2010 season.

He has so far earned 19 points in his 15 races, with a fifth-place finish at the Hungarian Grand Prix being his best result. But the French team’s bosses, who are not fully satisfied with his achievements, have yet to decide on the 26-year-old’s future.

Kosachenko also commented on the deal to put the 2014 Winter Olympics capital Sochi on the racing calendar, saying the Russian grand Prix will become one of the highlight of the F1 season.

“Yes, we were waiting for it for the last 11 or 12 years, and the whole of Russia is waiting for it since the Brezhnev era. Back than Formula 1 boss Bernie Ecclestone tried to get into Russia, but it didn’t work out. Other projects, such as the racing track on the Nagatinskaya floodplain, also weren’t executed. And now it has become possible, with the country’s leadership making a large contribution into this success. I'm sure that the race will be among the beast on the calendar,” she said.

Sochi will host its first Formula 1 race in 2014, with the racetrack in the resort city currently under construction.