Jun 13, 2019
When Pepsi was swapped for Soviet warships
Bartering is one of the oldest ways of doing business in the world. Today, bartering is usually associated with countries in turmoil. In an even more eye-opening historic example, back in the 1970s US giant Pepsi traded its soft drink for Soviet tomato paste, so it could enter the USSR market. Back in Iran, it has used bartering to support its economy ever since the US first imposed sanctions after the Iranian revolution of 1979. The Iranians then had to start bartering even more when tough curbs were imposed by the United Nations between 2010 and 2015.
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