The International Automobile Federation (FIA), said in a statement before the season-ending Brazilian Grand Prix on Wednesday that a payment from organisers MSO had been accepted, removing their liability.
TOSFED, Turkey's national sporting authority, has appealed against their share of the fine. A hearing is scheduled for Paris on November 7.
The punishment was imposed after Turkish Cypriot leader Mehmet Ali Talat presented the winner's trophy to Ferrari's Felipe Massa at the August race in Istanbul and was introduced to millions of viewers around the world as "President of the Turkish Republic of Northern Cyprus".
Turkey appeal record fine
Cyprus has been split since 1974, when Turkish troops invaded the northern part of the Mediterranean island after a brief, Greek-inspired coup. Only Turkey recognises the north.
The FIA feared that the podium ceremony had compromised its political neutrality.
The world motor sport council last month found TOSFED and MSO guilty of breaking FIA statutes, the international sporting code and Formula One regulations.
Record fine for Turks
Podium storm threatens Turkey