Abstract
The legal framework for managing resource issues in the Caspian Sea is currently being revised as a consequence of the decomposition of the former Soviet Union and coming into existence of the new independent republics bordering the sea. This paper analyses the legal regime of the Caspian Sea in relation to resource issues. The periods prior to and after the disintegration will be considered An assessment is made of the Russian proposal for the delimitation of resource zones in the Caspian Sea. Mechanisms available for establishing a juridical regime for sharing natural resources of the sea are discussed in terms of their theoretical and practical merits. In conclusion, it is argued that if a modern international legal regime for the Caspian Sea is to be established, the Caspian Sea States will have to establish a fair, reasonable and sustainable distribution system for sharing the resources.
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