IBOV 172,470.78 ▲ 0.66% IPC MEX 71,905.78 ▲ 0.05% MERVAL 2,848,945 — — USD/BRL5.56▼ 0.40% USD/MXN18.63— 0.00% USD/CLP983.31▼ 0.09% USD/COP3,278▲ 0.13% USD/PEN3.41▼ 0.04% USD/ARS1,544▼ 0.11% USD/UYU40.52▲ 3.70% USD/PYG6,174▲ 1.84% USD/BOB11.63▲ 0.92% USD/DOP60.98▲ 0.96% USD/CRC446.01▲ 1.66% USD/GTQ7.64▲ 3.18% USD/HNL26.90▲ 0.20% USD/NIO36.62▲ 1.17% USD/VES899.36▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 2.33% USD/TTD6.72▲ 2.23% EUR/BRL6.17▼ 0.14% BRENT 93.45 ▲ 2.14% WTI 87.30 ▲ 1.46% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.02% GOLD 3,996 ▼ 0.85% SILVER 51.91 ▲ 1.58% SOY 1,232 ▲ 0.57% CORN 447.25 ▼ 0.39% WHEAT 600.25 ▲ 1.27% COFFEE 265.45 ▼ 2.19% SUGAR 18.47 ▲ 2.10% ORANGE JUICE 145.60 ▼ 0.78% COTTON 82.35 ▲ 4.65% COCOA 5,061 ▲ 6.73% BEEF 218.73 ▼ 0.22% CATTLE 327.80 ▼ 0.77% LITHIUM 61.24 ▲ 2.10% PETR4 44.09 ▼ 1.91% VALE3 64.52 ▼ 0.43% ITUB4 41.73 ▲ 1.29% BBDC4 14.42 ▼ 0.83% ABEV3 15.79 — 0.00% BBAS3 17.07 ▼ 0.18% B3SA3 14.78 ▲ 2.07% WEGE3 51.62 ▲ 1.32% PRIO3 61.76 ▲ 2.90% SUZB3 54.13 ▼ 0.61% RENT3 30.27 ▲ 1.61% AZZA3 15.12 ▲ 2.65% CSAN3 3.01 ▲ 12.31% RAIZ4 0.30 ▼ 98.77% PCAR3 2.57 ▲ 0.39% GMAT3 3.98 ▲ 4.46% PSSA3 46.11 ▼ 1.20% CVCB3 0.88 ▲ 2.33% POSI3 3.25 ▲ 3.17% SLCE3 17.12 ▲ 0.18% NATU3 5.63 ▲ 1.44% BRKM5 2.91 ▼ 0.34% RANI3 8.46 ▲ 0.12% CSNA3 4.42 ▲ 0.91% IBOV 172,470.78 ▲ 0.66% IPC MEX 71,905.78 ▲ 0.05% MERVAL 2,848,945 — — USD/BRL 5.56 ▼ 0.38% USD/MXN 18.63 ▲ 0.03% USD/CLP 983.52 ▼ 0.07% USD/COP 3,278 ▲ 0.13% USD/PEN 3.41 ▼ 0.04% USD/ARS 1,544 ▼ 0.11% USD/UYU 40.52 ▲ 3.70% USD/PYG 6,174 ▲ 1.84% USD/BOB 11.63 ▲ 0.92% USD/DOP 60.98 ▲ 0.96% USD/CRC 446.01 ▲ 1.66% USD/GTQ 7.64 ▲ 3.18% USD/HNL 26.90 ▲ 0.20% USD/NIO 36.62 ▲ 1.17% USD/VES 899.36 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 2.33% USD/TTD 6.72 ▲ 2.23% EUR/BRL 6.17 ▼ 0.14% BRENT 93.45 ▲ 2.14% WTI 87.30 ▲ 1.46% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.02% GOLD 3,996 ▼ 0.85% SILVER 51.91 ▲ 1.58% SOY 1,232 ▲ 0.57% CORN 447.25 ▼ 0.39% WHEAT 600.25 ▲ 1.27% COFFEE 265.45 ▼ 2.19% SUGAR 18.47 ▲ 2.10% ORANGE JUICE 145.60 ▼ 0.78% COTTON 82.35 ▲ 4.65% COCOA 5,061 ▲ 6.73% BEEF 218.73 ▼ 0.22% CATTLE 327.80 ▼ 0.77% LITHIUM 61.24 ▲ 2.10% PETR4 44.09 ▼ 1.91% VALE3 64.52 ▼ 0.43% ITUB4 41.73 ▲ 1.29% BBDC4 14.42 ▼ 0.83% ABEV3 15.79 — 0.00% BBAS3 17.07 ▼ 0.18% B3SA3 14.78 ▲ 2.07% WEGE3 51.62 ▲ 1.32% PRIO3 61.76 ▲ 2.90% SUZB3 54.13 ▼ 0.61% RENT3 30.27 ▲ 1.61% AZZA3 15.12 ▲ 2.65% CSAN3 3.01 ▲ 12.31% RAIZ4 0.30 ▼ 98.77% PCAR3 2.57 ▲ 0.39% GMAT3 3.98 ▲ 4.46% PSSA3 46.11 ▼ 1.20% CVCB3 0.88 ▲ 2.33% POSI3 3.25 ▲ 3.17% SLCE3 17.12 ▲ 0.18% NATU3 5.63 ▲ 1.44% BRKM5 2.91 ▼ 0.34% RANI3 8.46 ▲ 0.12% CSNA3 4.42 ▲ 0.91%
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Wednesday, November 11, 2026

East Asia Central Asia

Putin’s Mongolian Gambit: Defying International Law and Reshaping Geopolitics

By · · 2 min read

Russian President Vladimir Putin visited Mongolia on September 2-3, 2024. This trip marked his first visit to an ICC-recognizing country since March 2023. The ICC had issued an arrest warrant for Putin over alleged war crimes in Ukraine.

Mongolia faces a delicate balancing act between Russia and China. The country heavily relies on its powerful neighbors for trade and energy. Russia provides 95% of Mongolia’s oil products and over 20% of its electricity.

Instead of arresting Putin, Mongolia welcomed him with full honors. A ceremonial guard on horseback greeted the Russian leader in Ulaanbaatar.

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Putin met with Mongolian President Ukhnaagiin Khürelsükh to discuss bilateral relations and energy cooperation.

The visit coincided with the 85th anniversary of a joint Soviet-Mongolian victory over Japan.

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This historical context provided a fitting backdrop for Putin’s diplomatic mission. However, the trip’s importance goes beyond commemorating past alliances.

Putin's Mongolian Gambit: Defying International Law and Reshaping Geopolitics.
Putin’s Mongolian Gambit: Defying International Law and Reshaping Geopolitics.
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Putin’s presence in Mongolia serves multiple strategic purposes. It shows his ability to travel internationally despite Western isolation efforts. The visit also aims to boost Russia’s influence in Asia amid Western sanctions.

Energy cooperation took center stage during the talks. Both leaders discussed the “Power of Siberia 2” gas pipeline project.

This proposed pipeline would transport Russian gas to China through Mongolian territory. If built, it could bring significant economic benefits to Mongolia.

The two countries signed an agreement on joint investments for a coal-fired power plant. They also made progress on plans for a small nuclear power plant in Mongolia. Putin promised to consider supplying gas to Mongolian consumers.

Putin’s Mongolian Gambit: Defying International Law and Reshaping Geopolitics

Mongolia’s decision to host Putin without arresting him has drawn criticism. Ukraine urged Mongolia to fulfill its ICC obligations.

The European Union expressed concern about potential legal consequences for Mongolia. This situation highlights the challenges faced by smaller nations caught between major powers.

Mongolia has long pursued a “third neighbor” policy to balance its relationships. Yet, its geographical and economic realities limit its diplomatic options.

Putin’s visit to Mongolia underscores the tension between international law and geopolitics.

It shows Russia’s efforts to maintain global influence despite Western isolation attempts. The event raises questions about the ICC’s ability to constrain powerful actors.

As the world watches, Mongolia’s handling of Putin’s visit may have far-reaching consequences.

It might undermine the country’s standing in the Western world but boost its reputation in strategically important regions like Russia and China.

Putin’s Mongolian Gambit: Defying International Law and Reshaping Geopolitics

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

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