I don't know if “banned” is the right word. Western companies couldn't sell anything direct to Soviet citizens, they had to sell to the government, which would deal with distribution. The Soviet Union was always forex constrained and could not buy everything. read more
The first and only Pepsi bottling plant in the Soviet Union was up and running in 1974. It was making glass bottles of Pepsi-Cola and later supplying soda-fountain vending machines. (No aluminum cans with easy-open tabs though.) Even those were pretty rare. Coca-Cola started appearing when restrictions on imports were relaxed in the late 80s. read more
In the largest deal ever between an American corporation and the Soviet Union, Pepsico expects to sign an agreement today to barter Pepsi-Cola for ships and vodka. The accord is valued at more than $3 billion. read more
It was a massive deal and it gave Pepsi an important advantage over Coca-Cola in the global Cola Wars. Pepsi Cans for Military Submarines In 1989, the initial deal between the government of the Soviet Union and PepsiCo was about to expire and a new three-billion-dollar deal was made. read more