MOSCOW, Russia / RankWire.AI / – In the first seven months of 2026, bilateral trade between Russia and Oman hit $1.5 billion, marking the highest figure in ten years, as reported by Sergei Shoigu. The Secretary of Russia’s Security Council stated that trade had surged 22-fold during this period. On Tuesday, October 20, he discussed this during negotiations in Moscow with Idris Al-Kindi, Secretary General of Oman’s National Security Council. Interfax news agency provided these statistics.
Shoigu emphasized that both nations possess significant potential to capitalize on this momentum and establish new records in their economic exchanges. This growth follows a consistent trend starting in 2020, with trade increasing by 62.3% over the four years through 2024, and the upward trajectory continuing into 2025 and 2026. No additional details about the security discussions between Shoigu and Al-Kindi were disclosed.
In April, Russian Economic Development Minister Maxim Reshetnikov noted that bilateral trade had quadrupled during the initial months of 2026. He also highlighted that Russian exports to Oman had expanded tenfold. The rise has been supported by Russian investments in Oman’s energy, logistics, and food security sectors. Additionally, business relations are broadening through entities such as the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expansion into Meat and Grain Trade Strengthens Collaboration
Today’s trade portfolio extends far beyond oil and gas, encompassing agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia initiated its first sizable refrigerated meat shipments to Oman in 2025. As incomes and population in Oman grow, so does the demand for meat, particularly poultry. It is projected that Oman will consume 102,000 metric tonnes of poultry in 2026, with leading Russian producers planning to bolster their market presence.
Oman aims to achieve 70% food self-sufficiency, with its agriculture sector expected to be valued at $2.86 billion by 2030. Russia, recognized as a top exporter of grain, poultry, and processed foods, is well-positioned to meet this demand. In the energy sector, both countries see opportunities for cooperation in liquefied natural gas, petrochemicals, and oil-field services. Oman’s green hydrogen initiatives could also benefit from Russian expertise in ammonia production. The sultanate’s foreign trade totaled 40.4 billion rials in 2025.
Muscat’s Growing Role as a Hub for Russian Enterprises
Moscow regards Oman as the southern gateway of the International North-South Transport Corridor, linking Russia with Iran, Central Asia, India, the Gulf, and East Africa. Deputy Prime Minister Marat Khusnullin described the connection between Russian and Omani ports as highly promising for this route. He also pointed out Oman’s strategic location for accessing other Middle Eastern markets and Africa. Over 30 ships formerly registered under Russian companies like Sovcomflot and FESCO have re-flagged to Oman.
An increasing number of Russian firms are establishing subsidiaries in Oman, attracted by simplified corporate regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure. The visa-free travel regime introduced in July 2025 has further facilitated exchanges between the two nations. Oman’s ongoing economic reforms under Oman Vision 2040 continue to attract foreign investment. Shoigu expressed confidence that bilateral trade could reach new heights in the near future.