Scandinavian (?) style wooden box

Here's a wooden box I came across a while back. It's clearly marked but I'm none the wiser...









The raised decoration has been painted white, but it's a funny looking sort of paint, sort of crackled like eggshell. There are small patches of gold colour, particularly on the horses hooves and neck collar. The areas inbetween have been gouged out, but not smoothly, so thin ridges of wood are left which make up part of the decoration in themselves. The 4 sides of the box have been marked all over with criss-crossing lines, as if done with something heated so the marks are slightly blackened.
There's a very clear mark on the back, carved into the wood in a smooth, rounded sort of way, as if done with a Dremel. It looks like a stylised AR. It has a small lock (but I don't have the key).

Thanks for any suggestions.

Nice one!

I would guess Polish or Russian and first half of the 20th century.

A very late thanks! - I forgot I'd posted this and didn't look back to it.