MOSCOW, March 5. /TASS/. FIA Formula One Team Haas has cancelled a contract with its Russian racer Nikita Mazepin, the team’s press office announced in a statement on Saturday.

The US-based F1 team also terminated its title sponsorship deal Russia’s major fertilizer company Uralkali.

"Haas F1 Team has elected to terminate, with immediate effect, the title partnership of Uralkali, and the driver contract of Nikita Mazepin," the statement reads.

The Team Haas fleet of racing cars was decked out in the colors of the Russian flag in the previous season since the title sponsor of the US team was Russia’s major fertilizer company Uralkali.

The company’s main owner is Dmitry Mazepin and his son Nikita Mazepin was racing last year for Team Haas alongside Germany’s Mick Schumacher, who is the son of F1 seven-time World Champion Michael Schumacher.

Commenting of Team Haas’ decision Mazepin said the racing team ignored his proposed conditions to continue racing.

"I am very disappointed to hear that my F1 contract has been terminated," Mazepin said on his Instagram account.

"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," the Russian racer stated.

"To those who have tried to understand, my eternal thanks," he continued. "I have treasured my time in F1 and genuinely hope we can all be together in better times. I will have more to say in the coming days."

Russian auto racer Nikita Mazepin, 23, signed a multi-year contract with Haas F1 Team in December 2020 becoming Russia’s fourth racer to compete in the world’s most prestigious auto racing series, FIA Formula 1. Nikita Mazepin’s best result at the legendary F1 racing circuits was 14th place.

Two days ago, the executive management of the International Automobile Federation (FIA) Formula One has severed a contract on the organization of the F1 racing series Grands Prix on the territory of Russia. According to a statement from FIA F1 press office on March 3, "Formula 1 can confirm it has terminated its contract with the Russian Grand Prix promoter. It means that Russia will no longer have a race in the future."

Last week, the FIA F1 executive management announced a decision to cancel the 2022 F1 Grand Prix in Russia’s Sochi, scheduled for September 23-25.