situation report

Aug 13, 2018 | 20:07 GMT

1 min read

Russia: Caspian Sea Convention Signed

What Happened: Leaders from the five Caspian Sea states — Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan — signed a legal convention on the body of water on Aug. 12, RFE/RL reported.

Why It Matters: Despite 20 years of negotiations, a statement from Iranian President Hassan Rouhani that further talks would be needed and an offer from Turkmen President Gurbanguly Berdymukhamedov to host another summit suggest that not all disagreements have been fully resolved. Because of this, energy projects such as the Trans-Caspian Gas Pipeline could be subject to further discussion or delays.

Background: The Caspian Sea is believed to contain significant energy resources, and the convention is designed to clarify the body of water's legal status to determine what rights the countries bordering it have both economically and militarily.

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