The key international convention that establishes sovereignty over territorial seas, and rights in continental shelves and exclusive economic zones (EEZ), is the United Nations law of the seas, UNCLOS.
It provides a legal framework for the signatory countries for ownership rights and jurisdiction concerning these areas.
The legal framework covers, among others, rights to natural resources in these areas, for the purpose of exploring and exploiting them, right to exercise jurisdiction over them, controls to protect and preserve the marine environment in them, and claims for compensation.
UNCLOS has been ratified by 167 states, including the US and EU, but not Turkey, Israel or Syria.
Cyprus proclaimed its EEZ in accordance to UNCLOS and launched this with the UN in 2004.
Cyprus claim to its EEZ is recognized by the EU, the US and the international community. It is on this basis that Cyprus has successfully conducted offshore licensing rounds…
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