They are beyond a nation’s reach, which means that no one “owns” them. Under international law, offshore oil rigs like the Deepwater Horizon are treated as ships, not real estate. The other 80% we have given away to … 5.3.1 States nearest the scene of an accident in international waters shall provide such assistance as they are able and shall, likewise, respond to requests by the State of Registry. The answer, in the terms of international law, is defined by the United Nations Convention on the Law of the Sea (UNCLOS). International waters, or the “high seas,” as they are sometimes called, are the areas of the ocean that don’t fall under any nation’s jurisdiction. Additionally, the law of the high seas applies – it is part of international law. International Waters Definition. As a result of membership of the Common Fisheries Policy, we are now allowed to catch less than 20% of the fish that swim in British waters. Who Owns the Oceans? The English Channel is approximated to handle more than 500 ships per day and hence is the busiest seaway. The very nature of the sea, untamed and unconstrained, begs the question: who owns the fish? The issue of who owns the oil and gas in the waters off Scotland's coast will be one which is sure to play a big role during the campaign ahead on the referendum in autumn 2014. The British-flagged oil tanker Stena Impero, which had been held off the Iranian port of Bandar Abbas for more than two months, set sail and reached international waters Friday, its Swedish owner said. ... it has remained the go-to body for policing of international waters, creating nautical policies, and more. The UN Convention on the Law of the Seas states the different rights and regulations regarding specific nations’ rights to oceans. But the masses of water above, and everything that happens in and on them, are also subject to legal regulations. 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