MOSCOW, March 9. /TASS/. Heineken will stop the production and sale of beer under the Heineken brand, the company reported on Wednesday.

"Heineken will stop the production, advertising and sale of the Heineken brand in Russia. We will take immediate steps to ring-fence our Russian business from the wider Heineken Company to stop the flow of monies, royalties and dividends out of Russia. Heineken will no longer accept any net financial benefit derived from our Russian operations," the report said.

Meanwhile, all facilities, operational and commercial divisions of the company on the territory of the Russian Federation will continue working, the company added.

The Netherlands-based Heineken N.V., a global leader of production of premium beer and cyder brands, has been operating on the Russian market since February 2002 when it acquired the first brewery in St. Petersburg. Currently Heineken owns seven breweries in Russia.