Caspian Sea
The Caspian has characteristics common to both seas and lakes. It is often listed as the world's largest lake, although it is not a freshwater lake. It contains about 3.5 times more water, by volume, than all five of North America's Great Lakes combined. The Caspian was once part of the Tethys Ocean, but became landlocked about 5.5 million years ago due to plate tectonics. The Volga River (about 80% of the inflow) and the Ural River discharge into the Caspian Sea, but it has no natural outflow other than by evaporation. Thus the Caspian ecosystem is a closed basin, with its own sea level history that is independent of the eustatic level of the world's oceans.
Caspian Sea
Russia, Kazakhstan, and Azerbaijan have bilateral agreements with each other based on median lines. Because of their use by the three nations, median lines seem to be the most likely method of delineating territory in future agreements. However, Iran insists on a single, multilateral agreement between the five nations (as this is the only way for it to achieve a one-fifth share of the sea). Azerbaijan is at odds with Iran over some oil fields that both states claim. Occasionally, Iranian patrol boats have fired at vessels sent by Azerbaijan for exploration into the disputed region. There are similar tensions between Azerbaijan and Turkmenistan (the latter claims that the former has pumped more oil than agreed from a field, recognized by both parties as shared).