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
The Convention grants jurisdiction over 15 miles of territorial waters to each neighboring country, plus additional 10 miles 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.