Landlocked country in awkward position of trying to maintain neutrality while dependent on Russia for fuel and heavily reliant on China for export revenues and consumer products.
Surrounded by Russia and China, country’s democracy and economy deserve Western support. But snatching assets from foreign investors would mean such backing falling by the wayside.
Study shows Kharmagtai a world-class asset that could be important provider of energy transition metals as world economy decarbonises and electrifies.
Move comes as Chinese steel mills gorge on Mongolian coal. Australia unseated as top supplier.
Development bank expects 2.8% growth across its region of operations in 2024, rising to 3.5% in 2025.
Hosting the spectacular occasion, involving nearly 100 countries, was a big soft power move by a country intent on cooperation with all nations, big and small.
Over thousands of years, Mongolia’s herders have shown resilience in the face of extreme weather disasters. But this year, many more than usual will likely give up and head for the city.
Analyst sees Mongolia as victim of Russian leader’s calculated defiance of international court’s arrest warrant. Given small country’s energy dependence on Russia, practically it was in no position to detain him.
Russian leader wanted by International Criminal Court for deportation of children amid conflict with Ukraine. But its rules may offer Mongolia options for not detaining him.
Russian leader, who is subject to an outstanding ICC arrest warrant, to take part in ceremonial events related to Soviet and Mongolian 1939 victory in battle with Japanese forces.