Very rough transliteration/phonetic rendering, enough that you may be able to search via Google:*>2) BCG and in the black ribbon beneaeth it
From top to bottom:
1) The line at the top ending with CCCP
Ministyerstvo Cultyur CCCP (possibly) Cultural Ministry of the Soviet Union
Vsyesoyuznaya Studiya Gramzapisi *(possibly) the second word means "study"