Influenced by the international economy, economic development in Mongolia faces new challenges. Meanwhile, Western sanctions against Russia as a result of the Ukrainian crisis have encouraged Moscow to push forward a Far East development strategy. In light of Russia's strategy, based around the goal of establishing a new international order, China proposed the "One Belt and One Road" strategy. For Mongolia, both Moscow and Beijing's initiatives provide new opportunities for development, particularly after Xi Jinping and Vladimir Putin's respective visits to the country in 2014. Aimed at cooperation with China and Russia, Ulaanbaatar proposed the "Pasture Road" initiative. Taken together, Mongolia's Pasture Road, China's One Belt and One Road and Russia's Far East strategy provide new opportunities for trilateral cooperation within the region.