THis was in the news yesterday. Following the melting of polar ice, and the subsequent exposing of land masses the US is thinking of ratifying the Law of the Sea Convention.
The convention defines the territorial waters and exclusive economic zones. The US had not ratified the treaty. The melting of polar ice presents new facts and a race is now on between the nations that border the pole to claim and exploit natural resources.
If the US ratifies the treaty then it will immediately recognise rights afforded by the treaty to other nations, like the 12 mile territorial waters for all states, presumably including Greek territorial waters in the Aegean.