MOSCOW, Russia / RankWire.AI / – According to Sergei Shoigu, bilateral trade between Russia and Oman hit $1.5 billion in the first seven months of 2026, marking its peak in ten years. The Secretary of Russia’s Security Council stated that trade had surged 22-fold during 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 expressed optimism that both nations could leverage this positive momentum to set new records in their trade relationship. This growth follows a steady expansion that has been ongoing since 2020. Over the four-year span ending in 2024, trade increased by 62.3%, and the upward trend persisted through 2025 and into 2026. No additional details 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 early in 2026, with Russian exports to Oman increasing tenfold. The expansion has been supported by Russian investments in Oman’s energy, logistics, and food security sectors. Business collaborations are also strengthening through entities such as the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Shipments of meat and grains bolster economic 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 large-scale refrigerated meat shipments to Oman in 2025. As incomes and population figures in Oman rise, so does demand for meat, particularly poultry. The country’s poultry consumption is expected to reach 102,000 metric tonnes in 2026, with major Russian producers planning to expand their market presence.
Aiming for 70% food self-sufficiency, Oman projects its agriculture sector to be worth $2.86 billion by 2030. Russia, being a significant exporter of grain, poultry, and processed foods, is well-positioned to meet this demand. In the energy sector, cooperation opportunities include liquefied natural gas, petrochemicals, and oil-field services. Additionally, Oman’s green hydrogen initiatives could benefit from Russian expertise in ammonia manufacturing. In 2025, Oman’s foreign trade totaled 40.4 billion rials.
Muscat becoming a strategic hub for Russian companies
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 highlighted the potential of the port connection between Russia and Oman, emphasizing Oman’s strategic position for accessing other Middle Eastern markets and Africa. Over 30 ships previously registered to Russian firms, including Sovcomflot and FESCO, have re-flagged to Oman.
An increasing number of Russian companies are establishing subsidiaries in Oman, attracted by the streamlined corporate regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure. The visa-free travel introduced in July 2025 has further facilitated movement between the two nations. Oman’s ongoing economic reforms under Oman Vision 2040 continue to draw foreign investment. Shoigu expressed confidence that bilateral trade could reach new heights.