Global Governance of Oil and Gas Resources in the International Legal Perspective. Joanna Osiejewicz

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Global Governance of Oil and Gas Resources in the International Legal Perspective - Joanna Osiejewicz Studies in Politics, Security and Society

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expend their natural resources to support the development of other developing countries. Because all countries – both industrialized and developing – have the right to permanent sovereignty, it can be considered whether the general duty to cooperate in the development of developing countries should not imply a specific obligation of the state in the use, exploitation, or sharing of natural resources for the purpose of promoting the development of developing countries. Such obligations can be found in Articles 69 and 70 of the 1982 UN Convention on the Law of the Sea, which, under certain conditions, provide for the sharing of living resources in the exclusive economic zones of coastal states with their neighbouring inland countries or other developing countries with different disadvantageous geographical locations. However, the fulfillment of this obligation depends on the way in which coastal states will interpret it.278 Nevertheless, the Convention on the Law of the Sea has identified this share of resources as the entitlement of the geographically disadvantaged inland states, which consequently entails a legal obligation on the part of the coastal states. The coastal states are also required to pay fees for the exploitation of the inanimate resources of their continental shelf beyond the 200 nautical mile zone, collected by the International Seabed Authority.279 The ISA distributes the collected fees to the states-parties to the Convention on the basis of fair criteria, taking into account the interests and needs of developing countries, especially the least developed and inland ones. Although modern international law presupposes that states have a duty to cooperate on development, of the developing countries in particular, there is no indication that this general obligation will be transferred to a higher level, as regards the obligation for states to exercise their right to permanent sovereignty.280

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