Geopolitical Transformation of the Caspian Region: Directions and Development Outcomes

Abstract

The geopolitical reshaping of the Caspian region, which began after the collapse of the USSR, continues. Over the past decades, a network of transport corridors has expanded in this area, and a new architecture of pipelines delivering oil and gas to foreign markets has been formed. The Caspian states actively develop cooperation in the energy sphere that serves as a basis for development. Significant progress has been achieved on the key issue of the international legal status of the Caspian Sea. The signing of the Convention on the Legal Status of the Caspian Sea in 2018 stabilized the geopolitical situation, defined common approaches of the states to solving regional problems and outlined ways for further cooperation. After the signing of the Convention, the key principles of multilateral cooperation between the countries of the region in different areas were formulated, establishing their priority in determining major directions of the region’s development. The 6th Summit of the Caspian States, held in June 2022, consolidated the main approaches to cooperation in the region. The meeting resulted in the creation of multilateral mechanisms for interaction and implementation of new infrastructure projects in the region. At the same time, new trends have emerged in recent years, and they have unique characteristics. This indicates the high dynamics of the processes that is taking place in the Caspian Sea. The methodological basis of the study is a systematic analysis of the processes unfolding in the region in the light of foreign policy changes and the transformation of the role of external actors.