Bank of Moscow not new Renault F1 sponsor

(GMM) The branding of the Bank of Moscow will feature on the Renault R30 cars this weekend in Abu Dhabi.

The news would seem to be a further boost to Russian driver Vitaly Petrov's hopes of retaining his race seat with the Enstone based team in 2011.

The bank, with a red and black logo to feature on the nose and the turning vanes, is partially owned by the Russian capital as well as the energy company Mosenergo, oil companies Surgutneftegaz and Lukoil and investment banks Bear Stearns and Goldman Sachs.

But in fact, Renault does not have a new sponsor.

Due to the anti-alcohol advertising laws in Abu Dhabi, the branding of Renault's Russian sponsor Flagman is not allowed on the cars this weekend.

The Bank of Moscow is Flagman's holding company.