Schooner treasure

The Frau Maria sank in 41m of water off the coast of what was then Sweden in 1771, while under commission by Catherine the Great to transport a cargo of gold, silver, bronze, porcelain and 27 paintings by Dutch masters.

The salvage would take place over the next two years, the well-preserved vessel possibly being raised whole and brought ashore.

It is hoped that there may even be something left of the paintings, which could have been packed in lead boxes lined with wax.

Finds will be displayed at St Petersburg's Hermitage museum, given no successful claim to any of the finds by other parties. Russia regards the cargo as its own, as owner of property of the old Russian Empire.