Economical Implications of the New International Court of Justice Maritime Delimitations in the Black Sea

In February 2009, the International Court of Justice pronounced its decision in the process on the Black Sea Maritime Delimitation (Romania vs. Ukraine) regarding delimitation of continental shelf and to the exclusive economic zone. The Decision puts a final end to a complex bilateral dispute which had lasted for 42 years between Romania and Ukraine and which could not be resolved by any other means. Romania fulfilled thus its strategic objective in this file: drawing an equitable line, non-susceptible to interpretations and which allows the exploitation of the hydrocarbon resources from the area allocated to it by the International Court of Justice solution. The interesting point is how an international low decision, can end a half a century debate between 2 countries and to produce immediate economical effects. This new maritime boundaries will allow Romania to begin a systematic prospection of the area and extraction of oil and gas resources in location already certified. Quantification of these resources is still subject of debate between specialists, but on the existing data the authors aimed to define the economic benefits of Romania for the near future.

  • Availability:
  • Authors:
    • Barsan, Eugen
    • Anechitoae, C
    • Barsan, F V
    • Jordanoaia, F
  • Publication Date: 2009

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 01150909
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Feb 1 2010 2:41PM