Abstract The Caspian Sea is the largest inland water body in the world and of great importance for the socioeconomic development of bordering countries. The Caspian Sea’ws unique fish resources and oil and gas fields are projected to provide a significant source of food and economic prosperity to the Caspian region, as well as energy to many parts of the world. This paper illustrates the need for objective assessment of transboundary risks on a regional scale. On the whole, the main threats to environmental security in the Caspian region are well known, though not fully evaluated. Risk analysis can be an important tool for identifying different challenges, revealing new hazards, assessing risks and, consequently, providing decision makers with options for mitigating both short- and long-term negative impacts on the regional economy and deterioration of the environment.


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