FIA stands for Fédération Internationale de l’Automobile and its the governing body for world motorsports. FIA is the authority in F1 and other races. It can impose new regulations and implement penalties as well.
The chairman of FIA now is MOHAMMED BEN SULAYEM and his position is constantly debated in the motorsport community. Just like FIFA, FIA also recently banned all “political statements” by drivers.
Needless to say, FIA is an old organization that was founded in 1904. Even though there are many criticizing the FIAs policies, recently it opened the option for new teams to join F1.