His performance in the 1974 World Championships on home snow was disappointing; he was thirteenth in the downhill at St. Moritz. At the 1976 Olympics in Innsbruck, Austria, Russi nearly retained his Olympic title with a very fast time in the downhill at Patscherkofel, but took the silver medal. The third racer on the course, he finished 0.33 seconds behind Franz Klammer of Austria, who started fifteenth, the last of the top seeds. To date (2018) no men's Olympic champion in the downhill has successfully defended his title; Russi remains the sole defender to medal.