MOSCOW, Russia / RankWire.AI / – In Moscow on October 20, Russian Security Council Secretary Sergei Shoigu announced that trade between Russia and Oman skyrocketed 22-fold during the first seven months of 2026, reaching a total of $1.5 billion. The figures, presented during a meeting with Idris Al-Kindi, Secretary General of Oman’s National Security Council, mark the highest level in a decade. This information was reported by Interfax news agency.
Shoigu expressed optimism, stating, “We have every opportunity to build on this positive momentum and reach new record levels in our bilateral trade.” A 22-fold increase corresponds to a rise of more than 2,000% compared to the same period last year. Details of the discussions between the two security officials were not provided by Interfax. The meeting underscores a year marked by active economic exchanges between Moscow and Muscat.
In April, Russian Economic Development Minister Maxim Reshetnikov highlighted that bilateral trade had quadrupled in the initial months of 2026, with Russian exports to Oman increasing tenfold during the same span. Over the four-year period from 2020 to 2024, trade grew by 62.3%. Russian investments in Omani projects related to energy, logistics, and food security have supported this upward trend. Growth in private-sector cooperation is also evident through entities like the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Expansion of Food and Energy Sectors Broadens Trade Scope
Trade relations now extend beyond hydrocarbons into sectors such as agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food products. Russian shipments of refrigerated meat to Oman, initiated in 2025, mark a significant milestone. The increasing demand for meat in Oman, driven by population growth and rising incomes, especially for poultry, reflects this trend. Domestic poultry consumption in Oman is expected to reach 102,000 metric tonnes in 2026, with leading Russian producers planning further market expansion.
Oman aims for 70% food self-sufficiency, with its agriculture sector projected to reach $2.86 billion by 2030. As a major global exporter of grain, poultry, and processed foods, Russia is well-positioned to meet this demand, alongside providing farm machinery. Energy cooperation encompasses liquefied natural gas technologies, petrochemical supply chains, and oil-field equipment. Additionally, Oman’s investments in green hydrogen could attract Russian expertise in ammonia. In 2025, Oman’s total foreign trade was valued at 40.4 billion rials.
Russian Shipping Interests Strengthen Through Omani Ports
Oman is seen by Russia as a key southern hub for 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 strategic importance of the Russian and Omani ports connection, considering it promising for the route. He also emphasized Oman’s strategic position as a gateway to other Middle Eastern markets and Africa. Over 30 ships previously registered to Russian companies such as Sovcomflot and FESCO have re-flagged to Oman.
Russian firms are establishing subsidiaries within Oman, attracted by simplified corporate laws and special economic zones. Ports like Salalah, Duqm, Sohar, and Muscat provide competitive infrastructure for traders. A visa-free agreement, enacted in July 2025, has facilitated tourism and business exchanges. Oman’s ongoing reforms under Oman Vision 2040 have further enhanced its attractiveness for foreign investment. Shoigu remarked that both nations could set new records in trade in the near future.