The Caspian Sea: Disputed Interests

The Caspian Sea is currently the spotlight of global concerns, due to the economic and geopolitical significance of the region. In this article, the authors explain why the area is of such importance, the unique legal situation of the Caspian and the stances its neighboring States—Iran, Russia, Azerbaijan, Kazakhstan and Turkmenistan—have assumed. In the nineties, westerners began to take an interest in the region and the authors discuss the steps taken by the governments involved in the dispute to strengthen their respective positions. Under such a scenario, conclude the authors, restoring stability to the region can only be achieved by means of a reconciliation between East and West, which will also depend on the evolution of the international oil market and its repercussions on the world economy.