Thursday, the Russian government officially approved its fourth coronavirus vaccine, Sputnik Light, according to statements from the Russian Direct Investment Fund (RDIF).

Only one dose of the Sputnik Light vaccine is required, in comparison to the two-dose Sputnik V vaccine.

Researchers and experts claim it has an efficacy rate of up to 79.4 percent, hoping it will speed up immunization against COVID-19.

In comparison, the two-shot Sputnik V has an efficacy rate of 91.6 percent.

"The single-dose Sputnik Light vaccine demonstrated 79.4% efficacy according to analyzed data taken from 28 days after the injection was administered as part of Russia's mass vaccination program between 5 December 2020 and 15 April 2021," said the RDIF.

The RDIF added the vaccine was proven effective against all new COVID-19 strains, "as demonstrated by the Gamaleya Center during laboratory tests."

Sputnik Light has been approved for use in over 60 nations.

However, it has not yet been approved by the European Medicines Agency (EMA) or the United States' Food and Drug Administration (FDA).

The slimmed-down vaccine, developed by Moscow's Gamaleya Center, costs under $10 a dose.

Experts claimed one of its potential uses is as a jab that can be sent to a country suffering from acute outbreaks that need to be subdued quickly.

The final clinical trial for the jab involved 7,000 participants in Russia, the UAE, Ghana and other countries, with interim results expected later this month, said the RDIF.