ECONOMY


Russian President signs law on ratifying convention on Caspian Sea’s legal status

Baku, October 1, AZERTAC

Russian President Vladimir Putin inked a law on ratifying the Convention on the legal status of the Caspian Sea, TASS reported.

The Convention on the legal status of the Caspian Sea was signed by Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan at the Fifth Caspian summit, which was held in Aktau, Kazakhstan, on August 12, 2018. Putin submitted the document for ratification by the State Duma, the lower house of parliament, on July 30. The law on ratification was backed by the Russian MPs on September 19 and endorsed by the upper house, the Federation Council, on September 25. The convention is designed to consolidate the regime of navigation and the collective use of its waters.

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