Juri Vips has just been fired by Red Bull Racing ... less than two weeks after the F2 driver was captured using a racial slur on a hot mic on a video game stream.
RBR just made the announcement, saying after completing its investigation into the junior driver, it decided to terminate Vips' contract.
"The team do not condone any form of racism," RBR said in their announcement Tuesday.
Red Bull Racing initially launched its probe into Vips last week ... after the 21-year-old used the n-word while playing "Call of Duty" on a live stream.