Archives Economics - Page 13 of 24 - New Eastern Outlook

Since the third quarter of 2023, the Mongolian public have been shaken by regular media reports of gasoline and diesel shortages in various parts of the country. Furthermore, to lend credence to these reports, a regular succession of publications have appeared stating just how many days’ worth of fuel are left in the country. This trend has become particularly evident since the Russian Federation introduced restrictions on fuel exports in 2023 to stabilize its domestic market. Mongolia receives more than 95% of all its fuel by rail from its northern neighbor, and more than 75% of all of Ulaanbaatar’s fuel imports come from Rosneft…

Russia and India are moving forward, exploring the adoption of a native BRICS currency. The move has garnered keen interest from Western interest, but so far, no key media has reported. A story in Middle East Economy a few days ago tells us Russia and India have joined forces to expand the influence of the BRICS alliance through digital economy initiatives. For the Western alliance, Russia/India dealings are really only the tip of a humongous iceberg. Some experts say and isolated America is right around the corner.

On December 21, 2023, Kazakhstan’s Prime Minister Alikhan Smailov gave the go-ahead for the construction of the new Bakhty-Ayagoz railway line in the Abay region. The project aims to construct a 272-kilometer double-track railway that will extend to the border of Kazakhstan and the PRC. The new line is expected to become operational in 2027. Currently, there are two rail border crossings with developed freight terminals on the Sino-Kazakh border: Khorgos and Dostyk-Alashankou. Almost 50% of all cargo transported along the China-Europe route passes through these border crossings…