In the arena of the Strait of Hormuz, where the US and China, the world’s two leading economies, carefully cultivate intense relations with their energy-diplomatic partners along the Persian Gulf, Russia these days is signalling new connections with Oman. (After all, Oman joined Russia and a number of other petro-states in “OPEC Plus” in 2016.)
Namely, the strategic, trade, and tourism cooperation of the two petro-states, which recently celebrated 40 years of diplomatic relations, has been growing significantly since the beginning of this decade, it was announced during the recent meetings of high-ranking representatives of the official Muscat and Moscow. (https://timesofoman.com/article/164962-oman-russia-hold-strategic-dialogue-session-in-muscat).
What topics of common interest were discussed by Major General Idrees Abdulrahman al-Kindi, Secretary General of the National Security Council of Oman and Sergey Shoigu, Secretary of the Security Council of the Russian Federation, in mid-November during the Second Strategic Dialogue between Oman and Russia, was not disclosed.
Soon after, the sultanate in the southeast of the Arabian Peninsula, in joint control of the Strait of Hormuz with Iran, with refined relations with the USA and Great Britain, as well as with China (it buys seven percent of oil from Oman), a legendary international diplomatic negotiator, agreed to hold an annual Business Forum with Russia. (https://forumspb.com/en/news/news/rossija-i-oman-ukrepljaut-ekonomicheskoe-sotrudnichestvo-itogi-biznes-foruma-v-maskate/)
At the same time, during a working visit to Oman, Russian Deputy Prime Minister Marat Khusnullin reminded the Forum, that the trade exchange between the two countries, in the period 2020-2024. increased by 62.3 percent (expected to reach 340 million US dollars). And that was especially encouraged by new Russian investments in Oman. (http://government.ru/en/news/56924/).
By comparison, Oman’s trade with the US last year was $3.2 billion (https://www.congress.gov/crs-product/RS21534).
Be that as it may, on the list of the world’s leading oil producers, Oman is currently in 21st place, with estimates that the country’s petro-reserves with a coastline of more than 1,900 kilometres could be exhausted within a decade.
With that, new explorations of potential oil deposits (also on the territory of the Northern Al Batinah Governorate on the Arabian Sea (on the photo), “just” below the Strait of Hormuz), ports modernization, infrastructure projects, production of halal food, tourism… are some of the fields of investment cooperation that were discussed during the recent Business Forum of Russia and Oman in Muscat. Among the numerous participants of that gathering was Saeed Ali Al Abri, president of the North Al Batinah branch of the Oman Chamber of Commerce.
