Putin signs law ratifying legal status of Caspian Sea - Ifax

MOSCOW (Reuters) - Russian President Vladimir Putin has signed a law ratifying a convention which sets out the legal status of the Caspian Sea, the Interfax news agency reported on Tuesday.

The convention, which maps up how to divide up the potentially huge oil and gas resources of the Caspian Sea, was agreed in principle last year by Russia, Iran and four ex-Soviet nations.

Russia and others hope its ratification will pave the way for more energy exploration and pipeline projects.

(Reporting by Andrey Kuzmin; Editing by Andrew Osborn)