XOM - F1 terminates Russian Grand Prix contract cancels September race

Formula One (NASDAQ:FWONA) confirmed Thursday that it would not be racing in Russia later this year after the state's invasion of Ukraine. F1 told that the contract for the Russian Grand Prix has been terminated, with the race for Sept. 25, 2022 being called off. It means that Russia will no longer have a race in the future. Formula 1 Russian Grand Prix was due to be moved to Autodrom Igora Drive in St Petersburg from 2023 from Sochi, with the the contract running until 2025. The termination comes as part of talks held last week between F1 officials and team bosses about the race following Russia's invasion of Ukraine, media report. Had the decision to terminate the Russian Grand Prix contract not been made it was likely to face a mass boycott of the event by the drivers in the wake of cutting ties with Russia. The four-times world

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F1 terminates Russian Grand Prix contract, cancels September race