In Taking Crimea, Putin Gains a Sea of Oil and Gas Reserves

[pampango]

When Russia seized Crimea in March, it acquired not just the Crimean landmass but also a maritime zone more than three times its size with the rights to underwater resources potentially worth trillions of dollars.

Russia portrayed the takeover as reclamation of its rightful territory, drawing no attention to the oil and gas rush that had recently been heating up in the Black Sea. But the move also extended Russia’s maritime boundaries, quietly giving Russia dominion over vast oil and gas reserves while dealing a crippling blow to Ukraine’s hopes for energy independence.

Russia did so under an international accord that gives nations sovereignty over areas up to 230 miles from their shorelines. It had tried, unsuccessfully, to gain access to energy resources in the same territory in a pact with Ukraine less than two years earlier.

Gilles Lericolais, the director of European and international affairs at France’s state oceanographic group, called Russia’s annexation of Crimea “so obvious” as a play for offshore riches.

http://www.nytimes.com/2014/05/18/world/europe/in-taking-crimea-putin-gains-a-sea-of-fuel-reserves.html

[okaawhatever]

1. Since the world isn't recognizing Russia's "ownership" of Crimea, I'm hoping Ukraine can sue them

in court to stop any drilling they attempt.

[Cha]

3. That's sounds like an upcoming hornets nest.

[pampango]

4. It may be similar to China's claim to those islands also claimed by Vietnam and the Philippines.

China wants their claim internationally recognized due to the potential oil and gas deposits that may be offshore. Will Vietnam and the Philippines end up suing China in an international court if China uses its superior military to claim ownership and develop oil and gas platforms.

Possession may be 9/10 of the law. I am not sure how international law looks at such situations.

[Cha]

2. Mahalo pampango.. I'm thinking that went a long way in ol

putin's decision to grab.