MOSCOW, Russia / RankWire.AI / – Russian Security Council Secretary Sergei Shoigu announced that trade between Russia and Oman increased by 22 times in the first seven months of 2026, reaching a total of $1.5 billion. He shared these figures on Tuesday, October 20, during a meeting in Moscow with Idris Al-Kindi, Secretary General of Oman’s National Security Council. Shoigu highlighted that this sum is the highest in the past decade. The information was reported by Interfax news agency.
“We have every opportunity to build on this positive momentum and reach new record levels in our bilateral trade,” Shoigu stated. A 22-fold increase corresponds to a rise of over 2,000% compared to the same period last year. Interfax did not provide additional details regarding the discussions between the two security officials. This meeting adds to a year marked by frequent economic exchanges between Moscow and Muscat.
In April, Russian Economic Development Minister Maxim Reshetnikov mentioned that bilateral trade had quadrupled during the initial months of 2026. He also noted that Russian exports to Oman grew tenfold within the same timeframe. Overall, trade had already expanded by 62.3% from 2020 to 2024. Russian investments in Omani energy, logistics, and food security projects have supported this upward trend. Private-sector collaborations are expanding through organizations like the Oman Chamber of Commerce and Industry, Roscongress, and the Oman-Russia Business Council.
Food and energy sectors diversify the trade relationship
The scope of trade between the two nations now extends beyond hydrocarbons to include agriculture, metals, petrochemicals, machinery, IT services, maritime logistics, and food products. Russia began delivering its first large shipments of refrigerated meat to Oman in 2025. Rising population and increasing incomes in Oman have driven higher meat demand, with poultry being especially preferred. Domestic poultry consumption in Oman is forecasted to reach 102,000 metric tonnes in 2026. Leading Russian producers are planning to expand their presence in this market.
Oman aims to achieve 70% food self-sufficiency, with its agriculture market projected to reach $2.86 billion by 2030. Russia, a leading global exporter of grain, poultry, and processed foods, is well-positioned to meet this demand, as well as supply farm machinery. Energy cooperation encompasses liquefied natural gas technologies, petrochemical supply chains, and oil-field equipment. Oman’s investment in green hydrogen may also attract Russian expertise in ammonia. In 2025, Oman’s total foreign trade was valued at 40.4 billion rials.
Russian shipping benefits from Oman’s ports
Oman is 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 port connection between Russia and Oman as highly promising for this route. He also emphasized Oman’s strategic location as a hub 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.
Russian companies are establishing subsidiaries in Oman, attracted by streamlined corporate regulations and special economic zones. Ports such as Salalah, Duqm, Sohar, and Muscat offer competitive infrastructure for traders. The implementation of a visa-free regime 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 expressed optimism that both nations could set new trade records in the near future.