Agreement Caspian Sea

The Agreement Caspian Sea: An Overview of the Historic Deal

The Caspian Sea is one of the world`s largest bodies of water, located between the continents of Asia and Europe. It has been a subject of dispute among its five bordering nations for decades. However, in August 2018, a historic agreement was signed among the leaders of Russia, Iran, Azerbaijan, Turkmenistan, and Kazakhstan that defined the legal status and resource-sharing rights of the Caspian Sea.

The agreement is known as the Convention on the Legal Status of the Caspian Sea and was the result of over two decades of diplomatic negotiations. The agreement finally resolved the long-standing disputes over its ownership, borders, and oil and gas resources. The parties agreed that the Caspian is neither a sea nor a lake, but rather a special legal status, which means it is technically not subject to the United Nations Convention on the Law of the Sea.

The deal divides the sea into territorial waters, exclusive fishing zones, and a shared resource zone. The territorial waters of each country extend 15 nautical miles from the coast, while the exclusive fishing zones extend 25 nautical miles. The shared resource zone is the remainder of the sea that has not been divided.

The deal also established that the Caspian`s resources, including oil and gas reserves, are to be shared jointly among the five nations. The agreement gave each country the right to explore, develop, and produce oil and gas within its own territory, but in the shared resource zone, all countries must collaborate and agree on any exploration or exploitation activities.

The Convention also addressed environmental concerns by setting pollution and environmental standards and regulations for the Caspian Sea. The parties agreed to take measures to prevent pollution, protect the biodiversity of the Caspian, and promote sustainable development.

The signing of the agreement marks a significant milestone in the region`s history and a positive step towards regional cooperation and stability. It will serve as a framework for the peaceful and equitable use of the Caspian`s resources and allow the countries to work together to protect the environment and promote economic development.

In conclusion, the Convention on the Legal Status of the Caspian Sea is a significant achievement for the region and the world. The agreement provides a legal framework for cooperation and collaboration among the five countries, ensuring the peaceful and equitable use of the Caspian`s resources and the protection of its environment. As the region moves forward, this historic deal will serve as a foundation for a brighter and more prosperous future for all.