Italian coach praises his team who 'gave their all' to secure victory in a pulsating Champions League quarter-final on Wednesday
"I will be staying with Williams for 2021. You've heard it here first," the 22-year-old, now in his second season in Formula One, told a video news conference ahead of the Hungarian Grand Prix.
Russell is backed by Mercedes and had been seen as a possible replacement for Valtteri Bottas, who is out of contract at the end of the year but now looking sure to stay with the champions.
Media reports have suggested Bottas has agreed a deal in principle.
The Finn won this month's season-opener in Austria and is leading his team mate and six-times world champion Lewis Hamilton by six points in the standings after two races.
Russell, who signed a three-year deal with Williams before joining last season, said he did not feel 'overlooked' by Mercedes.
"I'm not disappointed in Mercedes at all," he said. "There was nothing more they could do. Claire (Williams) was very firm with her decision that she was not willing, or not ready, to let me go.
"Ultimately as I have a contract with Williams I have to respect that decision. I'm here and I'll be giving everything I've got for Williams this year and into next year."
Latifi, a rookie this season, also has a multi-year deal with Williams.
Italian coach praises his team who 'gave their all' to secure victory in a pulsating Champions League quarter-final on Wednesday
With hundreds of vehicles abandoned on the road and motorists assessing their cars, fear mounts of further damage
Manchester City's dream of becoming the first team in history to claim the three titles in back-to-back years falls to pieces in penalty shootout loss
After an absence of nearly 850 days, the popular game is bringing back the cosmetic skin to its shop
At the event, a documentary showcased Bangabondhu Sheikh Mujibur Rahman's visit to the UAE in 1974 and his meetings with Sheikh Zayed Al Nahyan
The popular game offers players the chance to obtain three exclusive items for free
The latest update for the game addresses concerns over the MORS sniper rifle's excessive wall penetration
Mar Mari Emmanuel called for calm after the stabbing sparked angry scenes outside the church