F1 severs ties with Russian Grand Prix over Ukraine invasion

Russian President Vladimir Putin hands Lewis Hamilton the Russian Grand Prix trophy in 2014. (AP)

Formula 1 will no longer race in Russia after the sport terminated its contract with the promoter of the Russian Grand Prix, it said on Thursday, in response to the country's invasion of neighbouring Ukraine.

The event, which was set to move to a new track outside St. Petersburg next year from its current Sochi Olympic park venue, had a contract until 2025.

The sport had previously announced the cancellation of the 2022 race, originally scheduled for Sept 25, last week.

"Formula 1 can confirm it has terminated its contract with the Russian Grand Prix promoter meaning Russia will not have a race in the future," a statement from the sport's commercial rights holder, which decides the calendar, said.

Formula 1 move to effectively pull out of Russia comes after the sport's governing body, the FIA, on Tuesday condemned the country's invasion of Ukraine but said Russian and Belarusian drivers could still take part in its competitions in a neutral capacity.

British federation Motorsport UK on Wednesday banned Russian and Belarusian license holders from racing in the country regardless of the flag they compete under. Nikita Mazepin of Haas is the only Russian on the Formula 1 grid, and Motorsport UK's decision means he won't be allowed to race in the British Grand Prix.