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It must be the latter as that's where the icon is located.
(from http://www.if.gov.ua/modules.php?name=C ... age&pid=46 ):






It was:

OK, so this is settled then. It is not modern correct literary Ukrainian, but it would be strange to expect that.
Here are a couple links to articles (in Ukrainian) about the icon and the town of...

I do not know of such a tradition; it looks like the glass with the medal and soil was a charm though. A soldier (unless the piece is particularly valuable, he most likely was a common soldier)...

This is a prayer to the Virgin Mary; probably a good luck/protection charm of sorts.
The language is not Russian, most likely it's Church Slavonic which is used by the Orthodox Church. Or Ukrainian...