ULAANBAATAR, March 19. /TASS/. The State Great Khural, the national parliament of Mongolia, will amend regulations pertaining to rates of customs tariffs on imported products, primarily Russian petroleum products, amid the situation in the Middle East, the parliament’s press service said.

"Minister of Industry and Mineral Resources Gongor Damdinnyam initiated amendments to the parliamentary resolution of 1999 'On approval of rates and sizes of customs duties on imported goods,' stressing that their approval will grant a right to the government to set the duty rate for oil products, 95% of which are now purchased in Russia," the press center said.

Approval of this resolution by the parliament as part of reacting to the situation in the Middle East and the global oil crisis will significantly reduce the price of diesel fuel and gasoline, the press center noted. The Mongolian Ministry of Industry said earlier that after the ban on petroleum products exports by China, the Mongolian needs will be fully covered by imports from Russia.