By: Mir M.Hosseini
Following the Bolshevik Revolution in 1917, Iran did not receive due payments and terminated the Shilat Agreement on June, 3, 1918. A Russian national named Gregor Petrovich succeeded in signing a new agreement with the Ministry of Agriculture, Commerce, and Commonwealth on July, 20, 1919 according to which Iran granted him an exclusive fishing license in Caspian Sea for a period of 20 years. Iran's share was %50 of total income excluding expenses, plus total payment of 1,000,000 Tomans distributed in first 5 years. During the following 15 years, a yearly payment of 500,000 Tomans was foreseen.
In May 1921, the agreement was annulled because the Russian side did not make payments and Shilat assets were confiscated.