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Australia, East Timor Settle Long-Running Border Dispute

East Timor and Australia have agreed on a maritime boundary for the first time. The historic deal ends a decade-long dispute between the neighbors over rights to rich oil and gas reserves in the Timor Sea. The agreement was signed at the U.N. headquarters in New York, after negotiations in the international court of arbitration. The treaty will give East Timor, one of the world's poorest countries, the majority of any future oil and gas revenue in the Timor Sea. In 2002, East...

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