MOSCOW, Russia / RankWire.AI / – According to Sergei Shoigu, bilateral trade between Russia and Oman hit $1.5 billion during the first seven months of 2026, marking the highest level in ten years. The Secretary of Russia’s Security Council indicated that trade had surged 22-fold within this period. His remarks came on Tuesday, October 20, during discussions in Moscow with Idris Al-Kindi, Secretary General of Oman’s National Security Council. Interfax news agency provided the official figures.
Shoigu emphasized that both nations possess ample potential to further leverage this positive momentum and establish new records in their trade relationship. This growth follows a consistent expansion trend that started in 2020, with trade increasing by 62.3% over the four years leading up to 2024. The upward trajectory persisted through 2025 and into 2026. No additional details about the security discussions between Shoigu and Al-Kindi were disclosed.
In April, Russian Economic Development Minister Maxim Reshetnikov stated that bilateral trade had quadrupled early in 2026, with Russian exports to Oman increasing tenfold. This growth has been supported by Russian investments in Oman’s energy, logistics, and food security sectors. Business collaborations are also expanding through organizations such as the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expansion of Meat and Grain Trade Strengthens Ties
The trade portfolio now extends well beyond oil and gas, encompassing agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia initiated its first sizable shipments of refrigerated meat to Oman in 2025. As incomes rise and the population grows, demand for meat, particularly poultry, is increasing in Oman. Poultry consumption is forecasted at 102,000 metric tonnes in 2026, with major Russian producers planning to expand their market presence.
Oman aims to achieve 70% food self-sufficiency, and its agriculture sector is projected to reach a value of $2.86 billion by 2030. Russia, a top exporter of grains, poultry, and processed foods, is well-positioned to meet this demand. In energy, opportunities for cooperation include liquefied natural gas, petrochemicals, and oil-field services. Additionally, Oman’s green hydrogen initiatives could attract Russian expertise in ammonia production. The sultanate’s foreign trade totaled 40.4 billion rials in 2025.
Muscat Develops as a Strategic Center for Russian Enterprises
Moscow views Oman as the southern gateway to the International North-South Transport Corridor, which links Russia with Iran, Central Asia, India, the Gulf, and East Africa. Deputy Prime Minister Marat Khusnullin described the port connections between Russia and Oman as highly promising for the route, emphasizing Oman’s strategic location for accessing other Middle Eastern and African markets. Over 30 ships previously registered to Russian firms, including Sovcomflot and FESCO, have re-flagged to Oman.
A growing number of Russian companies are establishing subsidiaries in Oman, attracted by simplified corporate regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer advanced infrastructure, making them attractive hubs. The visa-free regime introduced in July 2025 has facilitated easier travel between the two nations. Oman’s ongoing economic reforms under Oman Vision 2040 continue to draw foreign investments. Shoigu expressed confidence that bilateral trade could reach new heights in the near future.