Due to the export ban on petroleum products imposed by China, Mongolia will be entirely dependent on Russia to meet its fuel needs. At a briefing held by Begzsurin Enkhtuvshin, he noted that TASS reports that this decision was forced. "This year we will not be able to import petroleum products from China, as the country has imposed a ban on their export. As a result, all necessary products will come from Russia, which will cover 100% of Mongolia's fuel needs. We managed to fix the prices for AI-92 gasoline, and the contract is valid until the end of 2026," he added.
Enkhtuvshin also pointed out that Mongolia, which receives 97% of its petroleum products from Russia, may face consequences due to rising oil prices caused by the situation in the Strait of Hormuz. He emphasized that during the upcoming visit of Russian President Vladimir Putin to Ulaanbaatar in 2024, both countries agreed on stable supplies.
The Deputy Minister also noted that Russia is ready to support Mongolia in fuel supply issues, emphasizing that this country has reliably provided the Mongolian economy with key energy resources for a long time. Under the Russian-Mongolian agreement, the supply of 1.8-1.9 million tons of petroleum products and 60,000 tons of aviation fuel annually on mutually beneficial terms is provided.
