Narrowband Raman lasing in a polarization-maintaining two-core fiber (TCF) is demonstrated. Femtosecond point-by-point inscription of fiber Bragg gratings (FBGs) in individual cores produces a half-open cavity with random distributed feedback. The laser linewidth in the cavity with a single FBG inscribed in one core of the TCF reduced by ∼2 times with respect to the cavity with a fiber loop mirror. It is shown that the inscription of two FBGs in different cores leads to the formation of a Michelson-type interferometer, leading to the modulation of generation spectra near threshold. This technique offers new possibilities for spectral filtering or multi-wavelength generation.