The Caspian Sea is the world's largest inland body of water, considered either the largest lake or a sea. It's an endorheic basin located between Europe and Asia, bordered by Kazakhstan, Russia, Azerbaijan, Iran, and Turkmenistan. Its surface area is about 371,000 km2, roughly the size of Japan, and its volume is 78,200 km3. The Caspian Sea has a salinity of approximately 1.2%, which is about one-third of the average seawater salinity. Its name originates from the ancient Iranic Caspi people.
Israeli Defense Forces attacked Iranian ships in the Caspian Sea, marking a significant escalation. Israel widened attacks hitting Northern Iran and energy sites. The IDF struck 200 Iranian targets.
By 1900, Baku had more than 3,000 oil wells, 2,000 of which were producing at industrial levels. By the end of the 19th century, Baku became known as the "black gold capital", attracting skilled workers and specialists.
In 1920, when the Bolsheviks captured Azerbaijan, all private property, including oil wells and factories, was confiscated, and the republic's oil industry came under the control of the Soviet Union.
In 1929, the Caspian Sea experienced the beginning of a short-term sea-level cycle with a fall of 3 meters (10 ft).
A 1931 treaty between Iran and the Soviet Union stated that the Caspian Sea belonged to both nations.
By 1941, Azerbaijan was producing a record 23.5 million tons of oil per year, with its Baku region output accounting for nearly 72 percent of the Soviet Union's oil.
During 1971, some peaceful nuclear construction experiments were carried out in the region by the U.S.S.R.
In 1977, the Caspian Sea's sea-level cycle continued with a rise of 3 meters (10 ft).
From about 1990, negotiations among the five states ebbed and flowed, regarding the governance of the Caspian Sea.
In 1994, the "Contract of the Century" was signed, initiating extra-regional development of the Baku oil fields.
In 1995, the Caspian Sea's sea-level rise came to an end, smaller oscillations took place since then.
In 1995, the rising level of the Caspian Sea reduced the number of habitats for rare species of aquatic vegetation. This has been attributed to a general lack of seeding material in newly formed coastal lagoons and water bodies.
In 1996, the rising level of the Caspian Sea continued to reduce the number of habitats for rare species of aquatic vegetation. This has been attributed to a general lack of seeding material in newly formed coastal lagoons and water bodies.
In 1998, Dick Cheney commented that he couldn't think of a time when a region emerged as suddenly to become as strategically significant as the Caspian.
In 2000, negotiations regarding the demarcation of the Caspian Sea had been ongoing for nearly a decade among all the states bordering it. The decision on whether it was a sea, a lake, or a hybrid was heavily debated due to its impact on mineral resources, fishing, and access to international waters.
In 2001, the Caspian Sea region produced about 1.4–1.5 million barrels per day of crude oil plus natural gas liquids, accounting for 1.9% of total world output.
In 2005, the Vladimir Filanovsky oil field was discovered in the Russian section of the Caspian Sea.
In 2006, the Baku–Tbilisi–Ceyhan pipeline, which conveys Azeri oil to the Turkish Mediterranean port of Ceyhan, was opened.
In June 2007, Kazakhstan's President Nursultan Nazarbayev proposed a 700 km link between the Caspian Sea and the Black Sea to boost access to markets. The proposed "Eurasia Canal" would transform landlocked Kazakhstan and other Central Asian countries into maritime states, increasing trade volume.
In 2007, the Caspian littoral states' meeting signed an accord that only allows ships bearing flags of littoral states to enter the sea.
In September 2008, leaked U.S. diplomatic cables revealed that BP covered up a gas leak and blowout incident at an operating gas field in the Azeri-Chirag-Guneshi area of the Azerbaijan Caspian Sea.
Progress was notable in the fourth Caspian Summit held in Astrakhan in 2014.
In 2015, Russia's economy ranked as the twelfth largest by nominal GDP and sixth largest by purchasing power parity.
In October 2016, it was announced that Lukoil would start production from the Vladimir Filanovsky oil field, which was discovered in 2005 and is reportedly the largest found in 25 years.
In May 2018, the 51st Special Working Group took place in Astana and found consensus on multiple agreements including: cooperation in the field of transport; trade and economic cooperation; prevention of incidents on the sea; combating terrorism; fighting against organized crime; and border security cooperation.
On August 12, 2018, the fifth Caspian Summit took place in Aktau, Kazakhstan, where the five leaders signed the 'Convention on the Legal Status of the Caspian Sea'.
On September 28, 2018, representatives of the Caspian littoral states held a meeting in the capital of Kazakhstan, as a follow-up to the Aktau Summit. The participants agreed to host an investment forum for the Caspian region every two years.
In 2018, the Samursky National Park was created to protect much of the Samur River delta, where over a thousand plant species are found, including the unique temperate broadleaf forest and tropical liana forests that date back to the Tertiary period.
Negotiations among the five states ebbed and flowed until about 2018, regarding the governance of the Caspian Sea.
As of April 2019, the high price of sturgeon caviar, more than 1,500 Azerbaijani manats (US$880) per kilo, allows fishermen to afford bribes to ensure authorities look the other way, making regulations ineffective and further endangering fish stocks.
On August 12, 2019, the first Caspian Economic Forum was convened in Turkmenistan, bringing together representatives from Kazakhstan, Russia, Azerbaijan, Iran, and Turkmenistan to develop infrastructure, tourism, and trade in the region. The forum hosted meetings of ministers of economy and transport.
On July 5, 2021, a fire broke out 75 kilometers from Baku and was attributed to a mud volcano erupting, spewing mud and flammable gas. SOCAR, the State oil company of Azerbaijan confirmed preliminary data indicated the cause.
On October 23, 2021, Kazakhstan President Kassym-Jomart Tokayev signed the Protocol for the Protection of the Caspian Sea against Pollution from Land-based Sources, aiming to ensure better protection for the Caspian Sea's biodiversity.
In July 2025, the Caspian Sea reached its lowest recorded level, falling to less than 29 meters (95 ft) below sea level.
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