Caspian Sea Legal Status Agreement
Due to the presence of numerous oil deposits at the bottom of the Caspian Sea, the question of legal status was very important; Some countries have even tried to develop fields in controversial areas, which has almost provoked military incidents.  In addition to the question of the legal status of the Caspian Sea, the Convention also governs passage to and from the Caspian Sea. It recognizes the right of all Contracting Parties to free access to other seas and the ocean from the Caspian Sea and to access the Caspian Sea for Contracting Parties from other seas and the sea. This right of access may be exercised by the freedom of transit by all means of transport through the territory of the parties to the transit. For geographical reasons, only Russia and Iran can be transit parts that adjoin the Black Sea, the Baltic Sea, the White Sea (as well as all other seas along the Russian north coast), the Pacific Ocean and the Persian Gulf. The other three States Parties, with the exception of their access to the Caspian Sea, are “internal States”. (10) the right to free access from the Caspian Sea to other seas and the ocean, in accordance with universally recognized principles and standards of international law and agreements between the parties concerned, with due regard to the legitimate interests of the transit party, in order to promote international trade and economic development; The convention aims to pave the way for the development of the TCP shortened above. If the TCP is built, it will transport up to 30 billion cubic meters of natural gas from the east coast of the Caspian Sea to Azerbaijan before being transported to Europe. While the convention removes some of the legal hurdlees to the construction of the pipeline, remarkable commercial and strategic challenges remain. 2. In its fishing zone, each Party shall have the exclusive right to harvest aquatic living resources in accordance with this Convention, separate agreements concluded by the Parties on the basis of the Convention and its national legislation.
The actual arrangements for the exercise of transit rights shall be governed by bilateral agreements between the Contracting Parties concerned or, in the absence of such an agreement, by the legislation of the Parties to transit. Parties to transit may also take all necessary measures to ensure that transit does not violate their legitimate interests. . . .