Dug Ring with Russian Cipher

I bought this old ring online from Latvia. I know that the field of metal detecting finds is rife with fakes and copies, but the quality and distinctiveness of the cipher seemed like a good sign to me, and it didn't have the green patina I associate with copies made to look old. I only paid $15 for it, so I don't mind if it was made in a workshop. I've been trying to figure out the cipher on it, to no luck. I have attached photos of it mirrored and have adjusted the contrast, as well as the original photos. I would love to get your thoughts on it:

Original photos:



Mirrored/Adjusted photos:

 

Surely that has to be a seal? Pressing it in some plasticene and take a photo should give a better image to work with.

 

Good old Silly Putty will do the trick too. Or Play Doh, I'd imagine.