The Delimitation of the Seabed and Subsoil of the Caspian Sea on the Basis of the Principle of Equity

One of the most alive and, to be sure, complicated political and legal events in the Caspian Sea region is the unresolved issue of its legal regime. The Caspian Sea, as a closed sea, has had a volatile history in terms of its legal regime and for the time being one cannot see a clear vision for solving its legal regime problem. The Caspian states have reached a consensus on the issues of environment and territorial as well as the special fishing zone, but the complex Caspian marathon in the exclusive economic zone and also continental shelf of the sea, remains unsolved. In this regard, if we look at the Islamic Republic of Iran’s position on the legal status of the Caspian Sea, we will see that Iran refers to the "principle of equity" as a basis for the division or delimitation of the Caspian Sea in order to restore its lost rights. This article tries to examine the meaning of the principle of equity as an element of natural justice and to elaborate the practice of the International Court of Justice regarding the delimitation of the continental shelf. We try to reach an accurate understanding of this term and its scope so as to reach a definite idea on the delimitation of the seabed and subsoil of the Caspian Sea.