This is getting interesting.Garry3,i'm sorry,i'll have to take back everything i said above.
This axe is most interesting,and a Very uncommon shape.In Russia,virtually unknown.
The only thing that would qualify it as Russian is the eye,and that peculiar spur-appendage.However,those quite possibly came from Scandinavia(arguably(and MOST objectionable to the Russian nationalists),along with all the tool-making,and woodworking technologies....).
Alas,i cannot make out the letters at all...Not even wether they're Cyrillic or Latin script...Would it be possible perhaps to copy them on paper,even most approximately?
Meanwhile,the general shape of the axe puts me in mind of the Norwegian Laftebile,or similar:A very fine-bladed,wide axe with a straight-ish edge,for working on those wide flats on the inside of the notch in the Norwegian-scribe type log construction...A specialised tool originally,but was later employed wider and wider,spreading through Scandinavian countries....
(REALLY sorry,Agent_H!
The first three letters are "LEA" and it possibly reads LEATIA .