Русский
Russia will not raise refinery gate prices for gasoline and diesel fuel exported to Mongolia, according to Damdinnyam Gongor, the Mongolian Minister of Industry and Mineral Resources.
Gongor met with Russian Energy Minister Sergey Tsivilev, Rosneft CEO Igor Sechin, and Gazprom Neft CEO Alexander Dyukov, where it was agreed that despite globally rising prices, Russia would continue to supply fuel to Mongolia at domestic market prices.
The Mongolian government has been concerned about the national fuel market and financial stability from the consequences of the military operation being conducted by the U.S. and Israel against Iran. Mongolia’s economy, dependent on imports of petroleum products, would have suffered from a global shock in the world market, which would have triggered a fuel crisis that could last several months, if Russia had not intervened.
The Mongolian government had asked the government of Russia, which supplies 98% of all petroleum products to Mongolia, not to raise oil prices within the framework of bilateral trade, despite volatility in the global oil market in early March. Mongolia forecasts that fuel prices on the domestic market could rise by up to 40% in the event of further increases in world prices.
Mongolia and Kazakhstan have signed a memorandum of understanding on cooperation in the oil and gas sector, and are studying the possibility of supplying at least 1 million tonnes of Kazakh oil to Mongolia.
Russia is a key strategic partner for Mongolia and is a participant in the Power of Siberia 2 LNG pipeline to China as well as having trade agreements with Russia. The decision showcases the benefits of maintaining good relations with Moscow when other countries seek to disrupt their supply chains with Russia.
The current price for 1 liter of diesel in Mongolia is the equivalent of €1.04. In Germany it is €2.13.
