Stating that he was "finished" with frontline politics, Mr Russell, pictured, said he has determined not to reapply for his party's nomination, claiming he had "enough of it."
"I've decided, after speaking with some friends and family members that I am out of this. I had enough. I've decided that I was out and I was tired of this back and forth," he said.
Mr. Russell was recently terminated from his ministerial post after reportedly discussing a project that was before Cabinet with one of his generals in Grand Bahama. Last week, Prime Minister Hubert Ingraham, the leader of the FNM, informed party supporters in Grand Bahama that he had fired Mr Russell for acting inconsistently with the protocols of Cabinet of the Bahamas.
Mr. Ingraham also explained the project in question was considered by the Government of the Bahamas on four separate occasions, and on each occasion they could not, and would not support the deal.
When asked yesterday if he would be minded to help the governing party's candidate for East Grand Bahama - whoever that candidate might be - in the upcoming campaign, Mr Russell said it was something he would have to "think about".
"I will make that determination later on tonight. I am an FNM. No matter what happens to me. We still have a country to build. So I may decide to help out," he said.
Mr Russell still maintains, however, that he felt he was unfairly treated by his party and by "those persons" who have determined that his time was now "up."
"I guess those who sit and analyse these things saw a different thing than what I saw. Maybe I made a mistake and didn't brag enough (about work completed under the Ministry of Housing), but if they think they can win without me they can go ahead."
Mr Russell also remained tight-lipped on exactly what kind of "deal" the Prime Minister had offered him prior to his termination from Cabinet.
"That is something you have to ask the Prime Minister about. As far as I was aware, I was given something to think about," he said.