Currently, Belarus, along with Latvia, are hosting the championship.
But the political situation in Belarus means that Latvia does not want to host the World Cup with the country, and that several nations are hesitant to go to the championship.
Instead, Russia has offered to host the World Cup.
There is no alternative, according to a press release from the IIHF:
"The IIHF has not gone further in any discussions about Russia being a co-organizer of the World Cup 2021. But this announcement closes the door to arranging a senior championship in Russia for the next two years."
"This message closes the door"
The Sports Arbitration Court Cas halves Russia's suspension from international sports from four to two years.
The IIHF had preferred that Russia's punishment be completely removed.
"Although we wanted the sanctions to be removed completely, we believe that this is a more reasonable level compared to what was previously proposed," the press release said.
The ruling in Cas came after Russia appealed the anti-doping organization Wada's decision last year to suspend Russia for four years due to doping offenses.
Despite the halved punishment, Russia will be stopped from, among other things, the Olympics in Tokyo in the summer of 2021, the Winter Olympics in Beijing 2022 and the World Cup in Qatar 2022.