The ICJ ruled on Monday that a cluster of
disputed small islands in the western Caribbean belonged to Colombia and
not to Nicaragua but drew a demarcation line in favor of Nicaragua in
the nearby waters.
The court said
the territorial waters extending out from the seven islets, which are
nearer Nicaragua's coast than Colombia's, should not cut into
Nicaragua's continental shelf. The ruling reduced the expanse of ocean
belonging to Colombia.
The
decision, which is binding, increases the size of Nicaragua's
continental shelf and economic exclusion zone in the Caribbean, which
would give it access to rich underwater oil and gas deposits as well as fishing rights.
http://www.reuters.com/article/2012/11/24/us-nicaragua-colombia-idUSBRE8AN01P20121124
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