The Paris-based organisation said it would "communicate shortly on the further steps that will be taken in this case."
Severiukhin posted a video apologising but denying it was a Nazi salute.
"I want to apologise. I have never supported Nazism and consider it one of the worst crimes against humanity,' he said.
"I am ready to be punished but there was no support for Nazism or fascism."
Earlier today his Swedish team terminated his contract.
"Ward Racing condemns the personal actions of pilot Artem Severiukhin during the award ceremony on April 10, 2022 in the strong possible terms, as it considers them a manifestation of unsportsmanlike behaviour, an unacceptable violation of the ethical and moral sports codex.
"On the basis of these considerations, Ward Racing sees no possibility for continued cooperation with Artem Severiukhin and will proceed with terminating his racing contract.'"