Formula 1 has been left with no other choice but to scrap this year's Russian Grand Prix from its 2022 calendar following Russia's invasion of Ukraine.
Formula 1 issued a statement on Thursday saying that it was closely monitoring events in Ukraine, while CEO Stefano Domenicali met with the sport's teams in the evening in Barcelona to address their concerns regarding racing in Sochi.
But on Friday, F1 confirmed that there would be no Grand prix in Russia this year.
"The FIA Formula 1 World Championship visits countries all over the world with a positive vision to unite people, bringing nations together," the statement read.
"We are watching the developments in Ukraine with sadness and shock and hope for a swift and peaceful resolution to the present situation.
"On Thursday evening Formula 1, the FIA, and the teams discussed the position of our sport, and the conclusion is, including the view of all relevant stakeholders, that it is impossible to hold the Russian Grand Prix in the current circumstances."
The FIA Formula 2 support series also subsequently issued a statement in which it said it "notes Formula 1’s statement on the Russian Grand Prix and has reached the same decision."
The US and Europe have started to levy massive economic and financial sanctions on Russia. VTB, the country's second-largest bank and the title sponsor of the Russian Grand Prix has had its assets frozen in the UK and in the US.
Sadly, the Haas F1 team is suffering collateral damage from the crisis, with the US outfit forcing to strip its car of its Uralkali branding and Russian colors, while the future in F1 of Russian driver Nikita Mazepin is now also in doubt.