MOSCOW, Russia / RankWire.AI / – Bilateral trade between Russia and Oman hit $1.5 billion during the first seven months of 2026, marking its peak in ten years, according to Sergei Shoigu. 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 reported these figures.
Shoigu emphasized that both nations have ample opportunities to sustain this momentum and set new records in their trade relations. This growth follows a consistent expansion starting in 2020, with trade increasing by 62.3% over four years leading up to 2024, and continuing upward through 2025 and into 2026. No additional specifics 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 in early 2026, with Russian exports to Oman increasing tenfold. Investments from Russia in Oman’s energy, logistics, and food security sectors have fueled this growth. Additionally, business collaborations are expanding through entities like the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Meat and Grain Exports Strengthen Economic Ties
The trade portfolio now extends beyond oil and gas, encompassing agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia initiated its first major refrigerated meat shipments to Oman in 2025. As incomes and population rise, Omani demand for meat—particularly poultry—is growing. Poultry consumption is projected at 102,000 metric tonnes in 2026, with Russian producers planning to expand their market presence.
Oman aims for 70% self-sufficiency in food, with its agriculture sector expected to reach a value of $2.86 billion by 2030. Russia, a top exporter of grain, poultry, and processed foods, is well-positioned to meet this demand. In energy, opportunities exist in liquefied natural gas, petrochemicals, and oil-field services. Oman’s green hydrogen initiatives could also benefit from Russian expertise in ammonia production. In 2025, Oman’s foreign trade totaled 40.4 billion rials.
Muscat Becomes a Strategic Hub for Russian Enterprises
Moscow views Oman as a critical 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 port connection between Russia and Oman as highly promising for this route. He also highlighted Oman’s strategic position for accessing broader Middle Eastern and African markets. Over 30 ships previously registered to Russian companies, including Sovcomflot and FESCO, have re-flagged to Oman.
A growing number of Russian firms are establishing subsidiaries in Oman, attracted by simplified business regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure. The visa-free regime introduced in July 2025 has further facilitated 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 set new records in the near future.