The karting champion made a Nazi salute on the podium, and the governing body of the sport is investigating.
After winning the first round of the European Championship in Portugal, Artem was seen making an offensive gesture.
He was competing under the Italian flag because of the sanctions against the Russian athletes.
His contract has been terminated.
Ward Racing, a privately owned Swedish team, said it was deeply shamed by the pilot's behavior.
The views and values of Ward Racing are not represented by the actions of Artem Severiukhin during the award ceremony on April 10, 2022.
Ward Racing stands with the international community in condemning Russia's invasion of Ukraine and expresses its solidarity with the people who are suffering.
Ward Racing sees no possibility for continued cooperation with Artem Severiukhin and will end his racing contract.
On Monday, the FIA launched an immediate investigation into the conduct of the man.
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