The Interior Ministry of the Russian North Caucasus said the blast occurred in the village of Alkun that borders the North Caucasus republic of Chechnya, the Russian news agency RIA Novosti reported.
Both servicemen were hospitalized in satisfactory condition with fragmentation wounds, a ministry spokesman said.
Auhorities didn't say who set off the device but an Islamic insurgency, once confined largely to Chechnya, has spread across the North Caucasus in recent years.
Attacks on security forces, police and civilians are reported regularly in the republics of Dagestan, Ingushetia and Karbardino-Balkaria.
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