Russian money keeps flowing in Formula 1

Before the Formula 1 season, focus was on Russia – partly on the GP competition in Sochi that was quickly canceled following the Russian invasion of Ukraine, and partly on the team Haas, that had a Russian driver in Nikita Mazepin and the Russian fertilizer company Uralkali with the driver’s father, oligarch Dmitry Mazepin, as a major sponsor. Mazepin is said to be close to Russian President Vladimir Putin.

Formula 1 drivers gathered on March 6 to take a stand against the war in Ukraine. (Photo: Red Bull Content Pool)

Haas broke ties with both Uralkali and Mazepin ahead of the season, and Formula 1 has terminated the broadcasting agreement with the state-owned TV channel Match TV and blocked F1TV in the country – but that does not mean that Formula 1 has completely freed itself from Russia. Several other teams, including the championship teams Mercedes and Red Bull, have sponsors who continue to do business in the country.

Mercedes sponsor: “Not going to be rushing…”

The last decade’s F1-dominant Mercedes, with the seven-time world champion Lewis Hamilton as its biggest name, is called Mercedes AMG Petronas F1 Team – and Petronas is a state owned oil giant from Malaysia that still does business with Russian oil.

“We have operations in Iraq, where we have collaboration with Gazprom. Insofar as any position is to be taken, we are taking guidance on the kind of sanctions that are going to apply,” Petronas chief executive Tengku Muhammad Taufik on march 1 according to the energy newssite Upstream Online.

“We are not going to be rushing into any decisions yet. We’ve taken into account the position and the geopolitics at the country level; that is something we will stand guided if the policy-makers take a stance.”

Mercedes AMG Petronas F1 Team answers Dagens PS by email stating that they believe it is Petrona’s business to comment on the company’s core business. Dagens PS has also contacted Petronas several times without receiving any reply to questions about whether the business with Gazprom and Russia continues to this day.

Mercedes driver Lewis Hamilton with the Petronas logo on his arm ahead of this weekend’s F1 race in Australia. (Photo: TT)

“Mercedes-Benz has suspended the export of passenger cars and vans to Russia as well as local manufacturing in Russia until further notice”, the spokesperson from Mercedes F1-team writes to Dagens PS, adding that the F1 team has no operations in Russia, except for the race weekend that was canceled by the F1 management.