Russia to Increase Fuel Supplies to Mongolia

Mongolian authorities have reached an agreement with the leadership of Russian vertically integrated oil corporations and the country's Ministry of Energy to increase fuel supplies to the republic, said the head of Mongolia's Ministry of Industry and Mineral Resources, Gongoryn Damdinniam, on social network X.

According to him, the parties agreed that by the end of August, the Russian side will additionally supply Mongolia with 25,000 tons of AI-92 gasoline and 5,000 tons of aviation kerosene.

"Despite the difficult situation (on the fuel market - FinFly) inside the country, I express gratitude to the Russian government and enterprises for their help in overcoming this unprecedentedly difficult period, respecting the historically friendly relations between our two countries," Damdinniam wrote.

The minister also stressed that the relevant departments are now beginning to promptly organize work on the immediate shipment and transportation of the agreed volumes of fuel to the country.

As reported, fuel demand in Mongolia has increased 2-3 times amid the peak of tourist activity, agricultural work, as well as due to the situation on the Russian fuel market (which is the main supplier of petroleum products to the country - FinFly). At the same time, Mongolian authorities reported that the agreement on trade in petroleum products with Russia continues to operate unchanged.

To avoid shortages, Mongolia is diversifying its import sources. Thus, an agreement was concluded with South Korea on supplies of at least 50,000 tons of fuel per month, and the first-ever purchase of aviation fuel from China in the amount of 1,000 tons was made. In addition, the authorities decided to temporarily cancel customs and excise duties on imported fuel in order to slow price growth on the domestic market.

Earlier it was also reported that in July Mongolia concluded contracts for August supplies from Russia, China and South Korea totaling 266,400 tons of motor fuel, including AI-92, AI-95 gasoline and diesel, as well as 7,000 tons of aviation fuel.