LONDON (TCA) — A fair division of the Caspian seabed including exploitation rights has been subject to debate for a quarter of a century now, with time and again the governments of littoral states — Azerbaijan, Iran, Kazakhstan, Turkmenistan, and Russia — assuring that they were on the brink of clinching a comprehensive agreement. At the bottom of the dispute is the question whether or not the Caspian waters should be seen as a lake or a sea. In the former case, international law requires a convention signed by all littoral states, dividing the entire waterbed into sections. The sea-option prescribes that each coastal state has authority over the waters down to 20 nautical miles from the shore, beyond which navigation is free and fishing and other exploitation rights should be either unlimited or defined by either bi- or multilateral agreements.
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