The five littoral states build consensus on legally binding governance of the Caspian Sea through Special Working Groups of a Convention on the Legal Status of the Caspian Sea. In advance of a Caspian Summit, the 51st Special Working Group took place in Astana in May 2018 and found consensus on multiple agreements: Agreements on 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.
The convention grants jurisdiction over  of territorial waters to each neighboring country, plus an additional  of exclusive fishing rights on the surface, while the rest is international waters. The seabed, on the other hand, remains undefined, subject to bilateral agreements between countries. Thus, the Caspian Sea is legally neither fully a sea nor a lake.
While the convention addresses caviar production, oil and gas extraction, and military uses, it does not touch on environmental issues.