Mongolia's president wants the Oyu Tolgoi dividend paid to citizens in cash. The government refused. Parliament now decides if the Wealth Fund lock holds.
Parliament cut 2 trillion tugrik from Mongolia's 2027 budget and left the deficit at 2.0 percent of GDP, after the Oyu Tolgoi dividend moved in full to the Wealth Fund.
Copper convoys crossing at Gashuunsukhait, Mongolia's busiest southern border port into China, fell from the usual 13 a day to about four from mid-October.
Mongolia scrapped its plan to spend the Oyu Tolgoi dividend on projects after voters backed the Savings Fund. The dividend itself is still unconfirmed.
Mongolia's fuel shortage is now a monthly scramble. Russia cannot supply more, Chinese fuel costs more, and the refinery meant to end it is due in 2028.
Mongolia's protests run on real anger. But a paid-protest trade has grown around them, and the unproven allegation now shapes how every protest is read.