The inland sea boasts a wealth of oil and gas reserves and sturgeon. AFP PHOTO / TOFIK BABAYEV
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The leaders of the five states bordering the resource-rich Caspian Sea signed a landmark deal Sunday on the legal status of the inland sea that boasts a wealth of oil and gas reserves and sturgeon.Russian President Vladimir Putin, whose country was seen as driving the deal, said the convention had "epoch-making significance" and called for more military cooperation between the countries on the Caspian.National boundariesThe deal provides a means of delimiting national boundaries in the sea whose underground energy resources are estimated at 50 billion barrels of oil and just under 8.4 trillion cubic meters of natural gas.The deal goes some way to settling a long-lasting dispute on whether the Caspian is a sea or a lake – which means it falls under different international laws.
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