‘Eurasianet’: Iran unveils oil deposit in waters claimed by Azerbaijan?

 Iran recently announced that it has discovered a substantial oil deposit -- about 10 billion barrels -- in the Caspian Sea, that would be about seven percent of Iran's total reserves. However, regional analyst Alex Jackson said the situation could get a lot more complicated since the discovery appears to actually be in waters claimed by Azerbaijan, Eurasianet report said.

The analyst said in addition to the 10 billion barrels of oil, it also holds 50 trillion cubic feet of gas, according to Iran.

“If the claim is true, it could cause a political crisis with Azerbaijan over the border, maritime tensions are likely to rise in light of increased militarization and other points of stress in the relationship, the issue may provoke a broader push (led by Russia) to force Iran into accepting the common position on the Caspian, other options: a demand for joint sharing of resources; a call for a moratorium on developing disputed fields,” analyst said.