The story
The All-Russian Co-operative Society, Ltd., began operations in London in October 1920. The name "Arcos" is an acronym deriving from the formal name of the company: All-Russian Co-operative Society, although in the contemporary press the name was typically capitalised as would be a proper name (i.e. "ARCOS").
Arcos was established as the official buying and selling agency of the Soviet government in the United Kingdom, and was a British company, operating under British law, although the stockholders were all Soviet citizens.
Arcos made £1,970,000 worth of purchases during the calendar year 1920, with payment for its purchases made in gold via the city of Reval (now known as Tallinn) in Estonia. The company bought an additional £3,650,000 worth of products during the first 8 months of 1921. Chief among its purchases were food, textiles, and coal, although a rather limited quantity of agricultural machinery was also obtained. The company was also the conduit for the sale of over £300,000 worth of Russian produce up to August 1921, primarily flax, but also including timber, manganese, and furs.
From Wikipedia’s article on All Russian Co-operative Society, shared under CC BY-SA 4.0.3
