A new team set up Formula Renault 3.5 race winner Adrian Valles will replace Team RFR for the category's end of season tests later this year.
AV Formula will take over RFR's entry initially only for the postseason tests, but it has already submitted a letter of intention regarding competing in the Renault-backed series in 2013.
RFR was a new name to the FR3.5 grid for this year, following a re-branding of the KMP Racing squad. The team brought former champion Mikhail Aleshin back to the category for this season, with the long-term aim of setting up a fully Russian team. However, it has endured a difficult campaign. Aleshin has managed just four top 10 finishes in 15 races, and sits 17th in the standings of a series he won in 2010 with Carlin. Meanwhile, RFR is 11th out of 13 in the teams' championship.
AV made its racing debut earlier this month in the Formula Renault ALPS 2-litre championship. It took a best finish of 16th in the Mugello double-header.
A statement on the team's website said: "AV is intended to cover all aspects of motor racing and will encourage drivers with a professional team.
"We don't seek winning drivers at all costs. Our mission is for AV Formula to give our drivers a solid personal and sporting formation."