Mongolia

Mongolia faces a high energy security risk, primarily due to its 100% oil import dependency and landlocked status, leaving it reliant on Russian and Chinese fuel imports with only 28 days of gasoline reserves. The country is experiencing significant economic pressure from rising fuel costs, with gasoline at $1.12/L, and a severe 62% increase in fertilizer prices contributing to moderate food risk. Despite no direct Hormuz exposure, the global supply deficit exacerbates its vulnerability to regional supply chain disruptions. The outlook for Mongolia is precarious, requiring careful management of diplomatic relations to secure essential fuel imports and mitigate economic instability in the coming weeks.