10:54 04.02.2009

Ukraine gets bulk of oil, gas reserves in delimitation dispute with Romania, says commissioner to international court

The UN International Court's decision on the Black Sea shelf delimitation was favorable for both parties in the suit, however the bulk of natural oil and gas reserves are concentrated in the part of the shelf going to Ukraine.

"The decision was favorable for both parties," Ukraine's commissioner in the UN International Court Volodymyr Vasylenko said on Ukraine's television on Tuesday night.

According to him, the sea shelf was divided in proportion 2.1 to 1 in Ukraine's favor. "However almost the whole of oil and gas reserves are concentrated in the part of the sea shelf going to Ukraine," Vasylenko said.

Ukraine's commissioner said that after the international court's decision both countries will have clear boundaries for know for certain where they can carry out economic activities. Besides, it will allow attracting foreign investors, he said.

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