The Russians had put in a provisional entry to the race, but confirmed that they have not had sufficient time on the water with their new boat to enter the Round Ireland.
The boat, named Kosatka (Orca in Russian) was officially christened with champagne today, and a traditional toast of Russian Vodka.
Team Russia will now make their competitive debut during the Round the Island race in the Solent instead.
Team Russia's boat was in action on the Solent again today, as Ireland's Green Team headed out for their first day of on-the-water testing.
Conditions were understood to be fresh off Southampton, with concerns that Green Team's Reichel Pugh design may have sustained some damage on its maiden voyage.