Kozak paid a working visit to Abu Dhabi in the United Arab Emirates, the site of this season's last Formula One grand prix, to discuss the Sochi circuit project with the F1 leadership.

He said the Sochi circuit would be located in the Olympic park, far from residential areas. The proposed construction site would also be located close to the city's airport, and a railway link would be laid between them.

"There will be no problems with noise pollution, and no environmental issues," the Russian official said at a meeting with F1 CEO Bernie Ecclestone.

"We still have some difficulties with running the construction of Olympic facilities and the racetrack at the same time. But all these issues are easy to solve," he said.

Ecclestone said, in his turn, that the F1 grand prix in Sochi will help to rationally use Olympic facilities after the games are over.

Last month, Russia signed a multimillion dollar agreement with F1 to stage a Grand Prix near the Black Sea resort of Sochi between 2014 and 2020. F1 CEO Bernie Ecclestone came to Sochi to ink the deal.

Russia will allocate 0-200 million on the track's construction. Under preliminary calculations, the project will pay off in five years, even at its highest cost.