ECONOMY

Mongolia has signed an agreement to purchase 78,000 tons of gasoline from Russia to stabilize domestic fuel supplies. Long queues have formed at fuel stations after imports of AI-92 gasoline declined.

Mongolia and Kazakhstan discussed potential oil supplies, a meat-processing plant, logistics and broader trade cooperation at a meeting of their intergovernmental commission.

Motorists staged a protest in central Ulaanbaatar over fuel shortages, high prices and long queues. The government says it is working to increase supply and restore normal distribution.

Mongolia will secure a concessional loan of up to ¥158.284 billion from Japan to expand Chinggis Khaan International Airport, including construction of a new passenger terminal and related infrastructure.

Tugrik-denominated deposits in Mongolia reached MNT28.8 trillion at the end of August, rising 24.9% from a year earlier, while foreign-currency deposits fell 8.2%.

Mongolia’s AI-92 petrol reserves have fallen to about 10 days of normal consumption, while queues remain at fuel stations. The government is working to increase supplies from Russia and bring in additional fuel from China and South Korea.

The EBRD and Green Climate Fund have launched a new phase of green finance in Mongolia, integrating climate considerations into banking operations and supporting sustainable technology investments by businesses and households.

The Government plans to include funding for the Arvaikheer thermal power plant in the 2027 budget and develop energy projects using Oyu Tolgoi dividend income and private investment.

The Government of Mongolia and Rio Tinto have agreed to amend the Oyu Tolgoi shareholders’ agreement, introducing new terms on project costs and the timeline for dividend payments.

The Government of Mongolia and Rio Tinto have agreed to amend the agreement governing the Oyu Tolgoi shareholders’ relationship. The changes could reduce project costs by $8.4 billion and increase Mongolia’s projected future returns by approximately $4 billion.

Mongolia and Rio Tinto have agreed changes to the Oyu Tolgoi shareholders' arrangements that could reduce project costs by US$8.4 billion and increase Mongolia's future benefits by US$4 billion.

Mongolia's provisional trade agreement with the Eurasian Economic Union provides duty-free access, but officials say regulatory, veterinary, customs and logistics barriers are delaying actual shipments.

Ulaanbaatar faces renewed winter smog despite efforts to improve air quality. The debate centres on coal briquettes, stove standards, and vehicle emissions as potential causes.

Mongolia's 2026 budget relies on exporting 90 million tonnes of coal at $70 per tonne, despite recent price drops. Key challenges include Chinese demand and border logistics.

Nyam-Osoryn Uchral becomes Mongolia's prime minister, consolidating power amid political instability. His 'Unlock Mongolia' initiative focuses on economic reform, governance, and anti-corruption efforts.

Mongolia aims to increase its clean energy share from 7.2% to 53.4% by 2050, eliminating electricity imports and addressing grid, storage, and financial challenges.

Mongolia's sixth national assessment finds 81.9% of territory affected by desertification, up five points since 2021, though severely degraded land fell 16.2%.

Bogd Bank, a Mongolian financial institution, plans to list on NYSE American, aiming to raise $25 million to expand lending in Central Asia and invest in technology.

Mongolia won recognition for rangelands and pastoralists at the summit it hosted. The one decision negotiators had carried over from Riyadh was carried over again.

Mongolia's economy is shifting from coal to copper exports, experiencing strong growth but facing rising inflation due to surging meat and energy prices, with significant dependency on China and Russia.