Jacques Villeneuve believes that Ferrari have "lost momentum", having lost the lead in both the Drivers' and Constructors' Championships.
The Scuderia have endured two challenging weekends in Spain and Monaco, particularly for Charles Leclerc, who retired from the lead in Barcelona due to a mechanical issue, before slipping from P1 to P4 at his home race in Monte Carlo following a pit-stop strategy blunder.
Villeneuve has been impressed with Leclerc's performances recently, but was baffled by Ferrari's choice of strategy for him in Monaco.
"Charles Leclerc was, just like in Barcelona, much better than the rest of the field," Villeneuve wrote in his column for Formule1.nl.
"He was relaxed all weekend and had everything under control. That was to be expected here, of course, because his car is fast in the slow corners.
"But in the race I found it hard to understand. They didn't want to take any chances with Leclerc. Not take any chances? This is a city that loves a gamble, with all its casinos.
"Not gambling in Monaco and playing it safe never pays off here. Both [Carlos] Sainz and [Sergio] Perez took the right decision."
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Villeneueve: Ferrari should be leading the Constructors' Championship
For the opening rounds of the season, Leclerc and Ferrari were at the top of the rankings in both championships.
However, this has all turned around since Leclerc's DNF from the Spanish Grand Prix, with Max Verstappen now leading the Drivers' standings, whilst Red Bull sit at the top of the Constructors'.
Villeneuve feels that this should not be the case.
"[Leclerc] was clearly the strongest of them all for two races in a row," the 1997 World Champion said.
"He is not making any mistakes whatsoever. He drove well [in Barcelona] and then he got mechanical problems, and here his strategy didn't work. He wasn't even on the podium and has again lost points to Max.
"Ferrari has lost momentum, they should be leading the field, including in the Constructors' Championship."
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