History
Despite its relatively small size, Volkhov has played a large role in Russian history and economy: in recognition of that, a figure representing the Volkhov appears among the allegorical monuments to the four major rivers of Russia (the others are: Volga, Dnieper and Neva) on the rostral columns in the ensemble of the Old Saint Petersburg Stock Exchange and Rostral Columns. Its role in facilitating trade is due to its position as the only river penetrating deep into inland Russia that flows north towards the Baltic, rather than south towards the Caspian or Black Seas.
In the mid-9th century, the Volkhov was a heavily populated trade artery of the Varangian-dominated Rus' Khaganate. It was a vital part of the most important trade route connecting Northern Europe to the Orient, by way of the Volga (Volga trade route) and Dnieper (trade route from the Varangians to the Greeks). The ancient Russian capital Staraya Ladoga and one of the principal Russian medieval cities Velikiy Novgorod are located along the Volkhov.
After entering the Volkhov near Gorchakovshchina and Lyubsha, commercial vessels of the Vikings cast anchor at the major trade emporium of Aldeigja (Ladoga). Then they rowed upstream past a series of rapids, guarded by the fortified settlements at Novye Duboviki and Gorodishche. There was another outpost at Kholopy Gorodok, 13 km north of present-day Velikiy Novgorod, or rather Holmgard, which was founded near the point where the Volkhov flows from Lake Ilmen.
"Most of these were initially small sites, probably not much more than stations for re-fitting and resupply, providing an opportunity for exchange and the redistribution of items passing along the river and caravan routes". It seems on the whole likely that such pre-urban settlements gave the country its Norse name of Gardariki.
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