What are the latest news in Mongolia?

Hosting the UNCCD COP17 Global Summit Ulaanbaatar hosted the 17th Conference of the Parties (COP17) to the UN Convention to Combat Desertification (UNCCD). The summit gathered global delegates, pastoralist representatives, and environmental leaders to discuss land restoration, drought resilience, and rangeland conservation, aligning with the 2026 International Year of Rangelands and Pastoralists. -UNCCD+ 1———Energy Security and Fuel Diversification The government continues to accelerate development of its domestic oil refinery project to reduce long-standing dependence on Russian fuel imports. This follows ongoing fuel price volatility and broader energy reform discussions aimed at securing stable winter reserves. Bti-project.org———Economic and Fiscal Policy The Bank of Mongolia adjusted monetary policy to combat inflation pressures and manage budget deficit concerns amid major mining revenue negotiations and infrastructure spending. Focus remains on critical mineral trade partnerships and strategic investment in key mining sites like Oyu Tolgoi.Aviation and Cross-Border Connectivity Mongolia marked a major aviation milestone by serving as the debut international route for China’s commercially manufactured C919 passenger aircraft operating regular flights between Beijing and Ulaanbaatar. Golomt Bank and local financial institutions also reported expanding use of alternative cross-border payment settlement systems for bilateral trade. -South China Morning Post+ 1———