PYENSEN REGION TRUST Seal, Image & Found by Longy.
Could be Cyrillic script ПЕНЗЕН = PENZEN around the top, CУK = SUK across the middle with a 5 pointed star before it and TPECT = TREST around the bottom all inside a raised circular border.
The other side seems to have been melted (possibly by friction?)
ID from Ged Dodd, "The СУК are not initals but the end of a name. ПЁНЗЕНСУК / ТРЕСТ or PYENSEN REGION TRUST.
In 1902 the sons of Bubnova Ivana Vasilievich had a trading warehouse in Moscow, near the Ryazan train freight station, on the St. Petersburg branch line. The company was involved in grain, flour, malt, and had a malting factory of 40 workers in the city of Penza, south east of Moscow in the Pyensen Oblast."
From Paul Cannon, "I wonder if the following helps interpret this seal. A possible reading is ПЕНЗЕНский СУКно ТРЕСТ ie Penza Cloth Trust. Such an organisation existed in 1929 and probably from the early Soviet period. It is mentioned on p167 of The Soviet Union Year Book for 1929 under the section for Wool Industry. Conveniently this is in English see Soviet Union Year Book."