Formal:
* Я говорю по-русски. (Ya govorju po-russki.) - This is the most common and formal way to say it.
* Я владею русским языком. (Ya vladeju russkim yazykom.) - This means "I am proficient in the Russian language."
Informal:
* Я могу говорить по-русски. (Ya mogu govorit' po-russki.) - This means "I can speak Russian."
* Я знаю русский язык. (Ya znaju russkij yazyk.) - This means "I know the Russian language."
Note: The preposition "по" (po) means "in" and is used before languages when speaking about them.
You can also add the word "немного" (немного) (a little bit) to express a lower level of fluency:
* Я немного говорю по-русски. (Ya nemnoho govorju po-russki.) - This means "I speak Russian a little bit."