Vasilyev began karting in 1984, competing in Soviet Union national competitions. He finished runner-up in the USSR karting championship in 1989. Transitioning to Russian touring car championships from 1990, he competed in the Tourism-1600 category, winning the national championship in 1996 with the Canopus team and again in 1997 with Miller Pilot. In 2000 he claimed a third Tourism-1600 title with TNK Racing before turning his attention to international GT competition.
Vasilyev made his international debut in the N-GT class of the FIA GT Championship in 2000 with Freisinger Motorsport, partnering fellow Russian driver Nikolai Fomenko in a Porsche 911 GT3. The pairing contested two rounds without points. They continued with Freisinger through 2001 before switching to RWS Motorsport for 2002 and 2003. Vasilyev scored his first championship point at the Donington Park round in 2002.
Returning to Freisinger — by then operating as Freisinger Yukos Motorsport — in 2004, Vasilyev produced his most competitive FIA GT season. Over eleven races he accumulated 48 points to finish sixth in the N-GT drivers' standings, with three class podiums including a result at Magny-Cours. In 2005 he stepped up to the GT1 class with Russian Age Racing, driving a Ferrari 550-GTS Maranello and finishing 34th in the standings.
Vasilyev appeared at Le Mans in five consecutive years from 2004 to 2008. His debut in 2004 with Freisinger Motorsport ended in retirement after 65 laps when the Porsche 911 GT3-RSR he shared with Fomenko and Robert Nearn suffered mechanical failure.
In 2005, driving for Cirtek Motorsport with Fomenko and Christophe Bouchut in a Ferrari 550-GTS Maranello, Vasilyev achieved his best result at the race: fifth in the GT1 class after completing 315 laps, placing 17th overall. His 2006 attempt with Convers MenX Team, co-driving with Peter Kox and Robert Pergl, ended in a crash after 196 laps. In 2007, again with Convers MenX Team and co-drivers Tomáš Kostka and Pergl in the Ferrari 550, he completed 322 laps to finish fourteenth overall and eighth in GT1 class. His final Le Mans appearance came in 2008 with the Snoras Spyker Squadron, driving a Spyker C8 Laviolette GT2-R with Peter Dumbreck and Ralf Kelleners; the car retired with engine failure after 43 laps.
Vasilyev's strongest endurance results came in the Le Mans Series rather than at Le Mans itself. In 2005 with the Convers Team in GT1, he scored 31 points from five races including three podiums to finish third in the standings. In 2006 with Convers MenX Team, still in the Ferrari 550, he improved to second in the GT1 standings with 28 points and three podiums. In 2008 in the LMGT2 class with Snoras Spyker Squadron, he scored 13 points from four races to finish eighth in class.
Vasilyev competed in two rounds of the 2005–06 A1 Grand Prix season for A1 Team Russia. He also made his Dakar Rally debut in 2006, entering the car class with navigator Konstantin Zhiltsov in a Mitsubishi Pajero for Rally Raid Concept, but retired on the thirteenth stage.
From 2007 to 2011 Vasilyev raced in the Ferrari Challenge Europe Trofeo Pirelli, his best seasons in 2010 and 2011 where he finished fourth in the standings with 124 and 108 points respectively. In 2010, his Russian racing licence was suspended following an unsporting behaviour ruling and he competed that season under a Lithuanian licence.
In 2012, Vasilyev drove for Valmon Racing Team Russia in the FIA GT1 World Championship with an Aston Martin, contesting four rounds without scoring points and finishing 29th in the standings. He subsequently competed in Blancpain GT competition with GT Russian Team, placing third in the 2014 Blancpain Sprint Series Pro-Am Trophy with 39 points. His documented major competition concluded in 2015, by which point he held an FIA Bronze driver categorisation.
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