MOSCOW, Russia / RankWire.AI / – Trade between Russia and Oman reached a total of $1.5 billion during the first seven months of 2026, marking a decade-high figure, according to Sergei Shoigu. The Secretary of Russia’s Security Council stated that bilateral commerce had seen a 22-fold increase 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 report on these statistics.
Shoigu emphasized that both nations possess ample opportunities to further capitalize on this positive trend and aim for new records in their economic exchanges. The upward trajectory in trade began in 2020 and has steadily continued. Over the four years leading up to 2024, trade increased by 62.3%, with this growth momentum persisting through 2025 and into 2026. No additional specifics regarding 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. This growth has been bolstered by Russian investments in Oman’s energy, logistics, and food security sectors. The strengthening of economic ties is further facilitated through the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expansion of Meat and Grain Trade Bolsters Diplomatic Relations
The scope of trade now extends well beyond oil and gas, encompassing sectors such as agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia initiated its first large-scale shipments of refrigerated meat to Oman in 2025. As incomes rise and the population grows, Omani demand for meat—particularly poultry—is increasing. It is projected that Oman will consume 102,000 metric tonnes of poultry in 2026, with leading Russian producers planning to deepen their market presence.
Oman aspires to achieve 70% self-sufficiency in food production, with its agricultural market expected to reach a value of $2.86 billion by 2030. Russia, recognized as a major exporter of grains, poultry, and processed foods, is well-positioned to meet this demand. On the energy front, both nations see potential for collaboration in liquefied natural gas, petrochemicals, and oil-field services. Additionally, Oman’s green hydrogen initiatives could attract Russian expertise in ammonia manufacturing. In 2025, Oman’s foreign trade totaled 40.4 billion rials.
Muscat Emerging as a Strategic Center for Russian Business Expansion
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 has described the connection between Russian and Omani ports as highly promising for this route. He also emphasized 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 within Oman, attracted by streamlined corporate regulations and special economic zones. Ports like Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure. 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 reach new heights in the near future.