Mongolia’s Industry and Mineral Resources Minister Gongoryn Damdinyam has said that the country’s supplies of Russian petroleum products have stabilised and that current reserves are sufficient, urging the public not to panic over earlier fuel shortages.


Speaking at a briefing, the minister said the situation with diesel fuel had been difficult in April but has since improved, Caliber.Az reports via Russian media. 


“In April, the situation with diesel fuel was difficult. But now we are purchasing it, along with Ai-92 petrol, at domestic Russian prices. Supplies of petroleum products have stabilised. However, the issue of their pricing may be discussed in the near future. We are currently liaising with the Russian side to clarify the situation. At present, we have sufficient stocks of petroleum products within the capacity of our warehouses and storage tanks. Therefore, citizens need not panic,” the minister told the public.


He added that Mongolia is currently sourcing petroleum products entirely from Russia following China’s export restrictions on refined fuels introduced in March. According to him, agreements for regular deliveries of aviation fuel, petrol, and diesel were finalised after several visits to Moscow.


The minister said these imports account for nearly 70% of petroleum consumption in Mongolia’s mining and agricultural sectors.


He also noted that global market volatility and geopolitical tensions, including developments around the Strait of Hormuz and the situation involving Russia, have complicated fuel supply stability. However, he stressed that long-standing cooperation with Russia has ensured continued deliveries.


“Due to the global market situation linked to the Strait of Hormuz and the military situation with our northern neighbour [Russia — ed.], it is becoming difficult to maintain a stable supply of petroleum products. Nevertheless, Russia continues to supply them to us thanks to our long-standing cooperation and friendly neighbourly relations. By 2028, we will have storage tanks capable of holding a three-month supply of petroleum products,” he said.


The government has said it is also working to expand storage capacity in order to reduce vulnerability to external supply disruptions.


By Sabinan Mammadli