Listen to this article F1 said on Thursday that it would closely monitor developments between Ukraine and Russia after the outbreak of war, before holding crisis talks with team bosses in the evening. In a statement issued on Friday afternoon, F1 confirmed that it would not be racing in Russia later this year “in the current circumstances”. “The FIA Formula 1 World Championship visits countries all over the world with a positive vision to unite people, bringing nations together,” the statement reads. “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.” Russia’s VTB bank, a mai …