MOSCOW, Russia / RankWire.AI / – Bilateral trade between Russia and Oman reached $1.5 billion in the first seven months of 2026, its highest level in a decade, according to Sergei Shoigu. The Secretary of Russia’s Security Council said trade had increased 22-fold over the period. He spoke on Tuesday, October 20, at talks in Moscow with Idris Al-Kindi, Secretary General of Oman’s National Security Council. Interfax news agency reported the figures.
Shoigu expressed optimism about both nations building on this momentum to achieve new milestones in trade. The upward trend stems from a steady expansion that began in 2020, with trade increasing by 62.3% over the four years up to 2024, and continuing to grow through 2025 and into 2026. No additional details regarding the security discussions between Shoigu and Al-Kindi were provided.
In April, Russian Economic Development Minister Maxim Reshetnikov noted that bilateral trade had quadrupled during 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. Business connections are also strengthening via the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expansion into Meat and Grain Trade Fortifies Relations
The trade portfolio now extends well beyond oil and gas, encompassing agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food commodities. Russia began its first large shipments of refrigerated meat to Oman in 2025. As incomes rise and the population grows, demand for meat, especially poultry, increases in Oman. Poultry consumption is projected 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 forecasted to be worth $2.86 billion by 2030. Russia, a significant exporter of grain, poultry, and processed foods, is well-positioned to meet this demand. In energy, both nations see opportunities for cooperation 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 Gains Importance as a Hub for Russian Enterprises
Moscow views 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 the route, emphasizing Oman’s strategic position for accessing other Middle Eastern markets and Africa. 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 corporate regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure. Additionally, a visa-free regime introduced in July 2025 has facilitated travel between the two nations. Oman’s ongoing economic reforms under Oman Vision 2040 continue to draw foreign investment. Shoigu stated that both sides could set new records in bilateral trade.