Formula One bosses have refused to call off the Russian Grand Prix.

The race in Sochi, which has been on the calendar since 2014, is set to take place on September 25.

Russia president Vladimir Putin has declared an invasion on neighbouring Ukraine.

An F1 spokesperson said: “Formula One is closely watching the very fluid developments like many others and at this time has no further comment on the race scheduled for September.

“We will continue to monitor the situation very closely.”

Spain F1 Pre-Season TestingLewis Hamilton, pictured in pre-season testing in Barcelona, won the Russian Grand Prix last year (AP)

The Russian race at Sochi’s Olympic Park is due to move to Igora Drive, 40 miles north of St Petersburg, from 2023.

UEFA is understood to be drawing up contingency plans over where to host this season’s Champions League final.

The showpiece is due to take place at the the 68,000-capacity Gazprom Arena in St Petersburg on May 28.

Speaking on Wednesday, the grid’s sole Russian driver, Nikita Mazepin told Sky Sports: “I am not struggling at all because I have always been a big supporter of sport without politics.

“From the understanding that we have with Formula One, the race is going ahead and you will surely see me there.”

However, two drivers did not share Mazepin’s opinion.

World champion Max Verstappen said: “When a country is at war, it is not correct to race there.”

And four-time former world champion Sebastian Vettel said: “I should not go, I will not go.

“People are being killed for stupid reasons. It is a very strange and mad leadership.”