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[Pages 115-130]
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Introduction
I.  Background
    A.  Short History of Caspian Oil
    B.  Caspian Geopolitics
    \\0120\\C.  Legal Status of the Sea
        1.  UNCLOS and the Law of Inland Lakes
        2.  Soviet-Iranian Treaties and the “Condominium” Principle
        3.  Recent Developments: Russia’s Proposed Solution
II.  Discussion
    A.  Russia’s Legal Arguments
    B.  Iran’s Legal Arguments
III.  Analysis
    A.  Implications for Russia, Azerbaijan, and Kazakhstan
    B.  Implications for the United States
    C.  Implications for Iran
Conclusion