Mongolia to rent fuel storage tanks from Russia

Mongolia were planning to rent fuel storage tanks from Russia while preparing to build its own national fuel reserve facilities within the next one to two years.

Due to ongoing Middle East conflicts, Mongolia has started preparing by stockpiling essential goods such as food and fuel. Mongolian government announced the proposal of renting fuel tanks from Russia had been officially conveyed to the Russian side.

After the nation’s own facilities finished, the government expected the facilities will provide at least a one-month national fuel reserve. The government had also pledged to allocate approximately USD 5.9 millionin interest-rate subsidies to companies that build the facilities.