Ferrari has confirmed it has withdrawn its appeal against Sebastian Vettel's penalty in Sunday's Canadian Grand Prix.

Despite crossing the line first at the Circuit Gilles Villeneuve, Vettel lost the victory after being handed a five-second time penalty for unsafely rejoining the track during his battle with Lewis Hamilton, demoting the Ferrari driver to second place in the final classification.

Ferrari confirmed after the race that it had notified the FIA of its intention to appeal the ruling, giving the team 96 hours to bring forward new evidence to support its case.

However, the team has now opted to withdraw its appeal against the ruling, but is considering other options.

"We can confirm we have now withdrawn our intention to appeal, and we are evaluating our right of review," a Ferrari spokeswoman told Crash.net.

Such reviews are permitted under the FIA regulations so long as new evidence has come to light regarding the matter, with a two-week window from the incident set as a deadline.

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