Irina Rodina has apologised for posting a racist tweet last year, claiming that her account was hacked.
In 2013, the three-time gold medallist, who lit the Olympic Cauldron at the climax of Friday's opening ceremony of the 2014 Sochi Games, had posted a doctored image of United States President Barack Obama and his wife Michelle looking at someone holding a banana.
"I respect the Obama family and apologise for not clearly stating earlier that I don't support the tweeted photo or racism in any form," Rodina told reporters.
"My account was hacked and I should have shown better judgement in my initial response and handling of the event."
The 64-year-old won three successive medals at the Games in the figure skating event.