Superyachts can enter Russia's inland waterways for the first time after a new law came into force this week, according to a report by Superyacht Business' sister title SuperYacht World.

The Russian government has now drawn up a list of ports and waterways which will allow access to vessels flying foreign flags.

The ban on foreign-flagged vessels was originally put in place by Joseph Stalin in 1936.

The Ocean Cruising Club says that many foreign yachts had recently applied to enter Russia's inland waterways before the ban was lifted, but they were mostly declined.

The move will make Russia's waterways more popular, allowing an increase in tourism to boost local economies.

However, deputy transport minister Viktor Olersky says it will take a few years to see the real impact.

Last year's Superyachting Index showed that 17 per cent of the world's biggest yachts are owned by Russians, but that none fly the Russian flag.

Superyacht Business / SuperYacht World, 30 May 2012