Mauritania

Mauritania faces high energy risk, importing 80% of its oil needs and primarily refined products, with a modest 18 days of gasoline reserves. Gasoline prices are at $1.15/L, contributing to moderate food risk due to a 62% increase in fertilizer prices. The country benefits from some small domestic oil production, offering a slight buffer compared to fully import-dependent neighbors, and its Hormuz exposure is low. However, sustained high global prices will continue to challenge its economy and public finances in the coming weeks.