MOSCOW, Russia / RankWire.AI / – In recent years, the economic ties between Russia and Oman have seen significant expansion, culminating in a remarkable surge in trade activity. During the first seven months of 2026, the bilateral trade volume soared by 22 times, reaching a total of $1.5 billion, according to Russian Security Council Secretary Sergei Shoigu. He disclosed these figures on Tuesday, October 20, during a meeting in Moscow with Idris Al-Kindi, Secretary General of Oman’s National Security Council. Shoigu emphasized that this figure marks the highest trade volume recorded in the past decade. The information was reported by Interfax news agency.
Shoigu expressed optimism about future prospects, stating, “We have every opportunity to build on this positive momentum and reach new record levels in our bilateral trade.” A 22-fold increase translates to a rise of over 2,000% compared to the same period last year. Details regarding the discussions between the two security officials remain limited, as Interfax did not provide additional information. This meeting underscores a year marked by frequent economic exchanges between Moscow and Muscat.
Earlier in April, Russian Economic Development Minister Maxim Reshetnikov highlighted that bilateral trade had quadrupled in the initial months of 2026. He also noted that Russian exports to Oman had increased tenfold during this period. Over the four years from 2020 to 2024, trade had already grown by 62.3%. Russian investments in Oman’s energy, logistics, and food security initiatives have contributed to this upward trend. Increasing private-sector collaborations are facilitated through entities like the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expanding Trade Focus to Food and Energy
The scope of trade between Russia and Oman has broadened beyond hydrocarbons to include sectors such as agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food products. Notably, Russia’s first major shipments of refrigerated meat to Oman commenced in 2025. The rising Omani demand for meat is driven by population growth and increased income levels, with poultry being particularly popular. Domestic poultry consumption in Oman is expected to reach 102,000 metric tonnes in 2026. Russian producers are preparing to expand their presence in this growing market.
Oman aims to achieve 70% food self-sufficiency, with its agriculture sector projected to reach $2.86 billion by 2030. As one of the leading global exporters of grain, poultry, and processed foods, Russia is well-positioned to meet this demand and supply farm machinery. Energy cooperation includes advancements in liquefied natural gas technologies, petrochemical supply chains, and oil-field equipment. Additionally, Oman’s investments in green hydrogen production could attract Russian expertise in ammonia. In 2025, Oman’s total foreign trade was valued at 40.4 billion rials.
Oman Ports as Strategic Russian Shipping Hubs
Oman is increasingly seen by Russia as a strategic southern gateway for the International North-South Transport Corridor, which connects Russia with Iran, Central Asia, India, the Gulf, and East Africa. Deputy Prime Minister Marat Khusnullin described the potential of the Russian-Omani port connection as highly promising for enhancing the route. He also pointed to Oman’s strategic position as an ideal base for reaching other Middle Eastern markets and Africa. Over 30 ships formerly registered to Russian companies, including Sovcomflot and FESCO, have re-flagged to Oman.
Russian companies are also establishing subsidiaries within Oman, attracted by simplified corporate procedures and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat provide competitive infrastructure for traders. The implementation of a visa-free regime between the two nations in July 2025 has further supported tourism and business exchanges. Oman’s reforms under Oman Vision 2040 have increased its attractiveness for foreign investors. Shoigu indicated that both countries could set new records in trade in the near future.