To increase Mongolia's foreign exchange reserves, ease pressure on the balance of payments and the tugrug exchange rate, and ensure macroeconomic stability, the Government of Mongolia has resolved to launch the “Gold-3” Campaign nationwide. In connection with this, a draft Resolution will be submitted to the State Great Khural of Mongolia for further consideration.
Minister of Mining and Heavy Industry of Mongolia, Damdinyam Gongor, stated, “Due to the worsening global geopolitical situation, oil prices on the international market have been highly fluctuating, with future trends uncertain and unpredictable. In response, the Government of Mongolia has instructed to take the following measures:
-Increase procurement and stockpiling of petroleum products to the maximum extent possible, in collaboration with fuel-importing enterprises;
-In cooperation with the Bank of Mongolia, study the possibility of securing concessional financing sources to increase petroleum reserves and prepare proposals accordingly;
-Continue the previous efforts to construct national petroleum storage facilities.”

Published Date:2025-06-26