Naval Exercise Arktika-71, Participant's Badge, early 1970s.
In aluminum and paint, medallion in 27.7 mm wide. Shows raised logo of the Leningrad Metal Hardware Factory (Завод Металлической Фурнитуры) on the reverse of both the medallion and suspension (on the latter it's only partly stamped but still recognizable).
In excellent condition. Shows some minor scuffs to the paint, no chips or flaking. The anodized finish is perfect and bright.