Russell finds himself out of contract at the end of this year, with many believing he will be handed a seat with Mercedes if the team parts ways with Valtteri Bottas, or Lewis Hamilton opts to end his Formula 1 career.
If neither of those situations occur, however, it would leave Russell in limbo going into 2022, although he has indicated that given the direction Williams is heading in, he would more than likely extend his stay now heading into his third year.
Asked by GPFans Global in a media session following the launch of the FW43B as to his future if a seat was not available at Mercedes next year, Russell replied: "First and foremost I'm a Williams driver this year.
"There is a lot of speculation and thoughts ahead of the 2022 season. Where I'll be if that were not to happen [being at Mercedes], what most of you guys are speculating on, it's an interesting position for me.
"As it currently stands, with the whole investment from Dorilton [Capital, new owners], the changes I've already seen taking place at Williams - they've finished last in the constructors' for the last three seasons, but I don't think that will be the case in 2022 - I see a very bright future here.
"There's a massive opportunity for every team in F1 for 2022, and with the investment we've got, with the guys already here, with the likes of Jost [Capito, CEO], with the guys that are coming in, the relationship that has been built with Mercedes, it's looking very exciting for the team.
"I guess I've got a very interesting decision on my hands towards the middle of this year but I'm not even thinking about that for now."
As to whether he expected to have a seat next season given the situation at Mercedes, Russell confirmed comments made to him by team principal Toto Wolff.
"Toto has always given me his word and he has always given me the opportunity when they believe I deserve it," added Russell.
"They have told me I'm a part of their future, and whenever that may be is when they believe the time is right.
"I think a lot of people think next year is the natural path, but equally things change very quickly in motorsport, especially in Formula 1.
"I'm not even thinking about it, to be honest. I had a taste of life at the front of the grid last year, but as I said, I'm focused on the here and now, focused on Bahrain.
"If I perform on track, if I deliver, continue on the same path and progress as I've done so far, I guess in the future the opportunity will come, but I'm not even thinking about it.
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