Sochi will vie with Austria's Salzberg and South Korea's PyeongChang will now enter a three-way race to decide who hosts the games after the result was announced Thursday by the International Olympic Committee.
Sochi bid for the 1998 and 2002 Winter Olympics, but failed to win the right to host the Games largely because of its poor-quality Soviet-era infrastructure.
Last week Russian Economic Development and Trade Minster German Gref said that the government would allocate unprecedented 190 billion rubles ($7.01 billion) for Sochi if it won the right to host the 2014 Winter Olympics.
Four other cities had initially also bid for the XXII Olympic Winter Games: Almaty, Kazakhstan; Borjomi, Georgia; Jaca, Spain; and Sofia, Bulgaria.
The winning city in the remaining trio for the 2014 event will be unveiled in July 2007 in Guatemala City.
