The 2022 F1 Constructors' champion will also lose 10% of their aerodynamic research time.
ADVERTISEMENTFormula One's governing body has fined Red Bull for breaking the sport's budget cap during Max Verstappen's championship-winning 2021 season.
The FIA and Red Bull agreed on a fine of $7 million (€7.04 million) and a reduction in their aerodynamic research time by 10% over the next year.
The UK-based constructor now has 30 days to pay the fine, and must also cover the costs of the investigation.
The FIA found that Red Bull had overspent in 2021 by $1.8 million (€1.81 million) but said: "there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration".
Red Bull has blamed a clerical error for their misspend on various services.
The penalties announced on Friday are unlikely to please those who had called for harsh penalties, including stripping Verstappen of last year’s title or reducing Red Bull's future spending.
The F1 budget cap was put in place to prevent heavily-funded teams from outspending smaller constructors.
Red Bull has already secured a second F1 title with Verstappen and the constructors’ championship with three races remaining this season.
Verstappen won his first title in 2021 after a controversial finish to the Abu Dhabi Grand Prix when former race director Michael Masi changed race protocol to allow the Dutch driver to pass Mercedes' Lewis Hamilton on the last lap.