MOSCOW, Russia / RankWire.AI / – According to Sergei Shoigu, bilateral trade between Russia and Oman reached $1.5 billion during the first seven months of 2026, marking its peak in ten years. The Secretary of Russia’s Security Council noted that trade had surged 22-fold over this period. He made these remarks 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 significant potential to sustain this positive growth trajectory and set new records in bilateral trade. This expansion builds on a steady trend that began in 2020, with trade increasing by 62.3% over the four years leading up to 2024, and the upward momentum continuing through 2025 and into 2026. No further details from the security discussions between Shoigu and Al-Kindi were disclosed.
In April, Russian Economic Development Minister Maxim Reshetnikov stated that bilateral trade had quadrupled in the early months of 2026, with Russian exports to Oman increasing tenfold. The growth has been supported by Russian investments in Oman’s energy, logistics, and food security sectors. Additionally, commercial relations are expanding via the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expanding Trade in Meat and Grain Strengthens Ties
Today’s trade portfolio extends well beyond oil and gas, encompassing agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia initiated its first large refrigerated meat shipments to Oman in 2025. Increasing incomes and population growth are driving higher demand for meat in Oman, especially poultry. In 2026, poultry consumption is projected at 102,000 metric tonnes, with major Russian producers planning to bolster their market presence.
Oman’s goal of achieving 70% food self-sufficiency and its agriculture sector’s projected worth of $2.86 billion by 2030 align well with Russia’s role as a top exporter of grain, poultry, and processed foods. In the energy sector, opportunities exist for cooperation in liquefied natural gas, petrochemicals, and oil-field services. Oman’s ambitions for green hydrogen production could also benefit from Russian expertise in ammonia manufacturing. In 2025, Oman’s foreign trade totaled 40.4 billion rials.
Muscat Positioned as a Strategic Hub for Russian Enterprises
Moscow views Oman as the southern gateway to the International North-South Transport Corridor, linking Russia with Iran, Central Asia, India, the Gulf, and East Africa. Deputy Prime Minister Marat Khusnullin highlighted the promising prospects of the port connections between Russia and Oman, emphasizing Oman’s strategic position for accessing other Middle Eastern markets and Africa. Over 30 ships, previously registered under Russian companies such as Sovcomflot and FESCO, have re-flagged to Oman.
An increasing number of Russian firms are establishing subsidiaries in Oman, attracted by streamlined corporate regulations and special economic zones. Ports including Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure options. The visa-free regime introduced in July 2025 has further simplified travel between the two nations. Oman’s ongoing economic reforms under Oman Vision 2040 continue to attract foreign investment. Shoigu expressed optimism that bilateral trade could hit new heights in the near future.