Commission for the conservation and rational use of aquatic biological resources and management of shared stocks of such resources of the Caspian Sea is responsible for implementation of the Astrakhan Agreement on the conservation and sustainable use of aquatic biological resources of the Caspian Sea (2014). It provides for the possibility for the Commission to take decisions binding on the States parties to the Agreement.

The Commission is aimed at coordinating activities for the conservation, reproduction, rational use of joint aquatic biological resources of the Caspian Sea, annual determination of the total allowable catches and distribution of national quotas. Its competences also include regulation of fishing and conservation of shared aquatic biological resources on the basis of restrictions, which may include the prohibition of fishing in certain areas and in relation to certain types of resources for certain periods.