As part of the ongoing moves from the sporting world in reaction to Russia’s invasion of Ukraine, Formula One (F1), has announced it has cancelled its hosting rights contract with Russia for the Russian Grand Prix.

The contract was reportedly valued at US$53 million and was renewed last year with the event scheduled to move to St Petersburg from 2023.

In a statement, the collection of F1, the global governing body, FIA, and F1 teams confirmed the firm stance against Russia, saying: “The FIA Formula One World Championship visits countries all over the world with a positive vision to unite people, bringing nations together.”

“We are watching the developments in Ukraine with sadness and shock and hope for a swift and peaceful resolution to the present situation.

“[Our] conclusion, including the view of all relevant stakeholders, is that it is impossible to hold the Russian Grand Prix in the current circumstances,” the statement read.

With the announcement made last week the 2022 Russian Grand Prix would be cancelled, the race on 25 September is likely to instead be hosted in the capital of Qatar, Doha, which is set to begin a long-term hosting rights contract with F1 in 2023.

Elsewhere in the F1 world, the Formula One team, Haas, has announced it has officially ended its sponsorship contract with Russian fertiliser company, Uralkali, meaning driver, Nikita Mazepin will no longer drive for the team.

The move comes after Haas originally removed Uralkali branding from its pre-season testing vehicles and unforms last week at the onset of the conflict.

As part of the partnership between Haas and Uralkali was a condition for Mazepin, who is the son of Uralkali major shareholder, Dmitry Mazepin, to race for the team, the termination of the sponsorship contract means Mazepin will no longer compete in the competition.

Mazepin’s future in F1 was already uncertain following the Russian invasion of Ukraine due to Motorsport UK banning drivers and teams from Russia or Belarus, and other national governing bodies threatening to do the same.

In response to the termination of his contract, Mazepin said on social media: “Dear fans and followers, I am very disappointed to hear that my F1 contract has been terminated.”

“While I understand the difficulties, the ruling from FIA plus my ongoing willingness to accept the conditions proposed in order to continue were completely ignored and no process was followed in this unilateral step.

“To those who have tried to understand, my eternal thanks.

“I have treasured my time in F1 and genuinely hope we can all be together again in better times,” he said.