Between the gold leafed surface, and the bright red horse, and the devil being crushed underfoot with a row of little houses following the line of his leg--no way could I resist this icon!  It is Archangel Michael of the Apocalypse--crowned and clad in gold, gospels in hand--who rides the red horse, with a rainbow arching between his raised hands. This depiction of Michael on his winged horse as "heavenly warlord" recurs in Eastern Orthodox icons, with lots written about its symbolic meanings - here, for example.  Plenty to be unpacked, but I'll take it as a triumph of good over evil and a very beautiful icon with a huge and holy aura!  

7" x 5 7/8" x 1 1/16". Plenty of aging to the gold leaf, which I like. It seems possible to me there was a but of touching up of paint at some point --to the gold in a few spots and on the face of the devil, perhaps--but I'm really not at all certain. Painted on a thick wood panel. I am not an expert on Russian icons, but would guess 18th c. based on looking at other examples.