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A Caspian partnership The proposal is that the littoral states should form a Caspian Foundation legal entity, and commit to that entity all existing rights in respect of the use, and the fruits of use (usufruct), of the Caspian Sea, and everything on it, in it, or under it. The Caspian Foundation would act as custodian or steward and the nations would have agreed governance rights of veto. This negative or passive veto right of stewardship is very different from conventional property rights of absolute ownership and temporary use under condominium. Moreover, it does not have the active power of control held under common law by a trustee on behalf of beneficiaries, and the legal complexities and management conflicts which go with it. The Caspian Foundation would be a subscriber to a Caspian Partnership framework agreement between the nations, investors of money or money's worth, and a consortium of service providers. This Caspian Partnership would not be yet another international organization, with everything that goes with that. It would not own anything, employ anyone or contract with anyone: it would simply be an associative framework agreement within which Caspian nations self-organize to the common purpose of the sustainable development of the Caspian Sea.

Nondominium - the Caspian solution By Chris Cook Twenty-first century problems cannot be solved with 20th century solutions. Nowhere is that saying so true as in territorial disputes where oil and gas are involved. The riches of the Caspian Sea have been the subject of dispute for years, and relatively simple - but still intractable - binary issues between Iran and Russia are now multiplied by the conflicting claims of what are now five littoral Caspian nations: Azerbaijan, Iran; Kazakhstan; Russia and Turkmenistan. Their claims relate not just to rights on the Caspian Sea surface, but to rights in the sea, and above all to the rights to the treasures that lie under it. 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A Caspian partnership The proposal is that the littoral states should form a Caspian Foundation legal entity, and commit to that entity all existing rights in respect of the use, and the fruits of use (usufruct), of the Caspian Sea, and everything on it, in it, or under it. The Caspian Foundation would act as custodian or steward and the nations would have agreed governance rights of veto. This negative or passive veto right of stewardship is very different from conventional property rights of absolute ownership and temporary use under condominium. Moreover, it does not have the active power of control held under common law by a trustee on behalf of beneficiaries, and the legal complexities and management conflicts which go with it. The Caspian Foundation would be a subscriber to a Caspian Partnership framework agreement between the nations, investors of money or money's worth, and a consortium of service providers. This Caspian Partnership would not be yet another international organization, with everything that goes with that. It would not own anything, employ anyone or contract with anyone: it would simply be an associative framework agreement within which Caspian nations self-organize to the common purpose of the sustainable development of the Caspian Sea.