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Greetings from your old friend! A huge thank you to our loyal readers for your patience. Inside Mongolia is back with fresh updates and in-depth coverage. We’re committed to delivering the most insightful and comprehensive news from Mongolia. Stay tuned for more!

Today’s briefing is a 2-minute read:

• 😣 Dilemma: Putin’s visit highlights Mongolia’s diplomatic dilemma.

• 🧑‍🤝‍🧑 M&A: Singapore conglomerate acquires Mongolian counterpart.

• 😛 Easy: Your go-to solution for international money transfers.

Let’s dive in!

😶‍🌫️ Mongolia’s Dilemma On Vladimir Putin’s visit

Last week, Russian President Vladimir Putin visits Mongolia. His visit spikes chaos domestically and internationally. What just happened?

🤯 Partner in War Crimes? 

From a Western media perspective, Putin’s visit to Mongolia did not go unnoticed. International outlets such as The New York Times, Politico, and The Guardian criticize Mongolia's actions, highlighting how Putin was “welcomed with a red carpet” rather than facing any repercussions. Headlines like “A Partner in War Crimes” paint Mongolia in an unfavorable light, suggesting that the country risks international isolation by hosting the Russian leader during such a turbulent time.

🫸 Diplomatic Backlash

Further amplifying the controversy, ambassadors from the United States, Germany, the European Union, Japan, and the United Kingdom voiced their opposition, publicly posting the hashtag “#StandWithUkraine” on social media. This collective diplomatic protest sends a clear message, underscoring the delicate position Mongolia finds itself in, caught between its economic dependence on Russia and pressure from Western nations.

• U.S. “We understand Mongolia”: Among Ukraine’s threatening statements to Mongolia, the International Criminal Court (ICC), and the European Union’s disappointment, the U.S. expresses the situation of Mongolia and continues to support Mongolia.

• 🪢 Tight rope around Mongolia’s neck: Mongolia imports 95% of its oil products and over 20% of its electricity from Russia. This dependency, couples with its geographic location between Russia and China, leaves Mongolia with limited room for maneuvering in global politics. 

Historically, Mongolia has maintained a stance of neutrality on issues involving China and Russia. In this context, hosting Putin was more a reflection of Mongolia’s economic and geopolitical reality than outright support for Russia’s policies.

🎤 Mongolians' Perspective About The Visit

• What Did Mongolia's Top Leaders Say To Vladimir Putin During His Visit? (ZMS)

• Nyamdavaa. R: Putin's Visit Reflects Strong Trust Between Russia and Mongolia. (Graph)

• Vladimir Putin’s Visit: Progress on Egiin Hydroelectric Power Plant and Fuel Supply Issues. (eguur)

🤷‍♀️ Was the Visit Worth It?

From a tangible results perspective, the visit leads to agreements on petroleum supply,  Egiin River Hydropower Plant cooperation, and discussions around the expansion of Mongolia’s III Thermal Power Plant and, air service. Despite these limited gains, the larger political fallout raises the question of whether the economic benefits of the visit were worth the potential diplomatic cost.

🤝 MSM Group Sells Majority Stake To Jebsen & Jessen

Singapore's Jebsen & Jessen Group acquires a majority stake in MSM Group, a long-time distributor of their industrial products in Mongolia for over a decade. This acquisition makes MSM Group the 7th subsidiary in the Jebsen & Jessen portfolio.

💎 The next chapter of MSM

Founded in 1998, MSM Group, a prominent Mongolian conglomerate, introducing international premium brands in Mongolia. The company’s operations span multiple sectors, including automotive, industrial, chemical, agriculture, and liquid food, and it remains a key distributor for over 50 global brands.

• 🧮 Changes in the shareholder structure: The Mongolian Investment Fund, previously a shareholder in MSM Group through its subsidiary, Mongolia Equipment Services (MES), divests its stake. This reduces the number of shareholders from 4 to 3, with only the 2 founders and Jebsen & Jensen remaining.

• 🚀 Potential growth: The sale to Jebsen & Jessen not only expands the latter’s geographical reach but also strengthens its distribution efficiency. For MSM Group, this partnership promises continued support and growth. 

😉 Don’t worry! MSM will be the same old MSM

💸 Your Go-To Solution For International Money Transfers

For expats in Mongolia, sending money abroad just got easier with SendMN. This app offers a seamless way to transfer money to over 170 countries. With low fees and fast delivery times, SendMN addresses common issues like high costs and slow processing in traditional remittance services.

• 🌍 Global Reach with Low Fees: SendMN allows you to send money to over 170 countries with some of the lowest fees in the market.

• 🔒 Fast and Secure: Your transfers are processed quickly and securely, ensuring your money arrives safely.

The app’s user-friendly design eliminates the need for physical visits, saving time and effort. Plus, SendMN's referral program rewards users with $5 for every friend they refer who completes a transaction. In a market where convenience and reliability are key, SendMN is the all-in-one solution for your international money transfer needs.

⭐ Selected for you

ECONOMY

• Bank of Mongolia Purchases Over 10 Tons Of Gold  In The First 8 Months. (XinhuaNews)

• Mongolia Imports 2,777 Electric Bicycles In The First 8 Months. (GCAM)

• Mongolia Likely To Target Nearly 20% Surge In 2025 Coal Exports. (SXCoal)

MARKET

• Hermes Center Announces ₮12.5 Per Share Interim Dividend. (MSE)

• Mongol Daatgal JSC  Shareholders Elect A New Board. (MSE)

• Erdenes Tavantolgoi JSC Updates Resource Estimate: Tavantolgoi Deposit Now Valued at 8.1 Billion Tons. (ETT)

POLITICS

• Chinese VP Arrives In Mongolia. (XinhuaNews)

• TRL To Implement Advanced Road Crash Data Management System In Mongolia. (TRLSoftware)

• The 310 MW Egiin River Hydropower Plant, With A Total Investment Of ₮3.7 Trillion, Is Set To Begin Operations In 2032. ()

• Mongolia To Focus On Infrastructure Development In Provinces Next Year. (AKIpress)

• China’s Envision Energy Wins The International Tender And Begins Constructing A 50 MW Battery Storage Facility In Mongolia. (Ulaanbaatar)

ENTERTAINMENT

• Mongolian Doc Subjects Denied Visas to Attend Toronto Film Festival. (HollywoodReporter)

• “The HU” Kicks Off European Tour. (TheHU)

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Publisher: TS.Ankhbayar
Writer: M.Khulan 

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.