Vladimir Putin and Formula One's power brokers are in advanced talks about staging a race in St Petersburg.

Sportsmail understands the Russian president is preparing to bankroll a new purpose-built circuit 15 miles or so outside the country's second largest city.

Should Putin decree it, the Russian Grand Prix would decamp from Sochi, where it will be held this weekend, to St Petersburg as soon as 2021.

Talks are underway to decamp the Russian Grand Prix from Sochi (pictured) to St Petersburg

The move would mark a change in Russia's sporting landscape. Sochi was added to the F1 calendar in 2014, just after the Winter Olympics were held at the Black Sea resort, a favourite holiday destination of Stalin, who had a dacha built here.

While Sochi has developed a growing tourist scene, with new bars and restaurants added every year, it does not hold the international prestige of St Petersburg, a thousand miles north, where four Euro 2020 matches will be held next year.

Former F1 supremo Bernie Ecclestone explored the possibility of a race in the city a decade ago, before the Sochi deal was done.

Ecclestone is a close personal friend of Putin and an avowed admirer of his presidency, and it is believed he will have been sounded out by the Kremlin over the likely switch of venues.

Former F1 supremo Bernie Ecclestone is a close personal friend of Vladimir Putin

Sportsmail has been told that both Liberty Media, the sport's owners, and the FIA, the sport's regulators, are also keeping abreast of developments.

A venue such as St Petersburg would fit Liberty's avowed intention to take F1 to 'destination cities', something they have found harder to deliver than to promise. Miami and Las Vegas have been mooted but yet to be delivered.

Next year, F1 goes to Vietnamese capital Hanoi - along with Zandvoort in Holland - with the owners' ultimate plan to make the season 23 or 24 races long, up from 21 this year and 22 next.