This is an ensemble of really valuable 12th – 17th century architectural monuments located on the right bank of the Volkhov River, right opposite the Kremlin. According to a legend, it was here that Prince Yaroslav the Wise erected the most magnificent palace of all in Europe in the early 11th century. The white Arcade of the Marketplace (“Gostiny Dvor”) is built replacing the former Trading Mart that was surrounding the Prince’s Palace being the busiest place in Novgorod by that time. There were barns and various shops located and trade was conducted; the wharves received merchant ships from abroad. At Yaroslav’s Courtyard there were Gothic and German Courts, where merchants from the cities of the Hanseatic League lived while staying in Novgorod. (In the Middle Ages, Novgorod was a major trade partner of the Hansa).

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