As least nine holidaymakers are known to have died, with scores missing, following the sinking of a cruise ship on the Volga River in Russia.

The overloaded vessel - which was licensed to carry no more than 120 passengers – went down with as many as 206 people on board.

While rescue efforts are continuing, hopes are fading for the missing passengers following the sinking on Sunday.

Officials at the Ministry of Civil Defence & Emergency Situations listed 79 people as saved.

The 56-years-old double decker ‘Bulgaria’ sank at 09:58 GMT yesterday near the village of Syukeyevo in the Kansko-Ustinovsky district of Tatarstan.

The vessel sank during a lightning storm and heavy rains.

A criminal investigation has been opened into violations of transportation safety regulations, according to the national Investigative Committee’s website.