Caspian Sea deal has been made today by Iran and Russia. They are meeting at Aktau in Kazakhstan to tie a convention on the Caspian Sea. Three other countries tying the knot are Kazakhstan, Azerbaijan, and Turkmenistan.
There have been 22 years of wrangling between these countries. Iran seems to have used the Caspian as a tactical protection shield. The Caspian Sea deal has made Russia most pleased. This resource-rich sea can bring billions of dollars worth of energy to Russia. Though talks were tough the deal was set today between five states. The Caspian Sea is home to 48 billion oil barrels and 9 trillion m3 natural gas.
The difference between Caspian being a lake or sea adds up in cash. Either these five states get their share of coastline or receive 20% of resources. Most stories suggest the seabed is to be divided. Each littoral state will run its own jurisdiction in its share of the sea.
At home, many Iranians are worried and in dismay over the deal. They compare the deal to the 1828 Treaty of Turkmenchay. Persian people are writing on social media that Iran is selling out their homeland.
Russian President Vladimir Putin said the new deal “brings cooperation between the countries to a qualitatively new level of partnership.” His Iranian counterpart Hassan Rohani is looking to seal delimitation of oil for other four states.