But we've learned ... the King of Beers has decided it won't be throwing a similar party at the '14 Games ... at least, that's the plan for now.

In fact, we've seen an email from a Budweiser rep which says the company does not want its U.S.-based representatives in Sochi ... and the message is clear -- the terrorist threat is simply looming too large.

A rep for Anheuser-Busch confirms to TMZ Sports ... there will be no Club Bud in Sochi -- but the rep didn't give a reason for why the company is not throwing the party.