The demonstration event on July 17 will take place on a temporary circuit built around Sochi's city centre.

It has been organised by the Krasnodar region's motorsport federation with the support of Dmitry Kozak, Russia's Deputy Prime Minister and head of the Russian race's Organising Committeem, and Alexander Tkachev, Governor of the Krasnodar region.

Sochi last October agreed a $40 million (£25 million) deal with Formula One to host a race, starting in 2014, although this may be postponed for a year if it interferes with preparations for that year's Winter Olympics and Paralympics.

The race is due to be held on a circuit that will be built in the Olympic Park.

Both Renault and Virgin have close relationships with Russia.

Renault currently field Formula One's first and only Russian driver in Vitaly Petrov, while Virgin are part owned by Russian sports car makers Marussia Motors..

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