The riots reportedly started after a bar fight on September 10 between ethnic Russians and Armenians left one person dead and two others injured. Groups of locals reportedly carried out a series of attacks targeting people from the Caucasus over the next few days.
Local authorities have asked vendors from the Caucasus to stay away from city markets to avoid further tensions.
Prosecutors denied the violence in the Volga River town was motivated by ethnic hatred.
The incidents in Volsk come after similar riots in the Karelian city of Kondopoga earlier this month.
(Ekho Moskvy, Interfax, newsru.com