Oman-Russia Business Ties: How Expanded Cooperation Could Boost Opportunities for Omani Firms
MUSCAT, FEBRUARY 27 — Middle Eastern businesses are increasingly expanding their presence in Russia as economic cooperation between the two regions evolves from isolated investment deals into structured, long-term partnerships, according to the Roscongress Foundation.
Companies from Oman, Saudi Arabia, the United Arab Emirates, and Qatar now regard Russian markets not only as consumption hubs but also as platforms for joint industrial projects, localization efforts, and technological collaboration. This growing interest is fueled by Russia’s vast domestic market, robust energy and industrial infrastructure, engineering expertise, and access to extensive Eurasian trade networks.
The Russian Direct Investment Fund (RDIF) has been pivotal in advancing this cooperation by collaborating with regional sovereign wealth funds to establish joint investment platforms. For instance, a partnership with Mubadala channels capital into Russian ventures, while similar alliances with Saudi Arabia’s Public Investment Fund underscore Riyadh’s strategic view of Russia as a key destination for long-term investment.
Other major institutional investors are also showing keen interest. The Qatar Investment Authority is targeting Russian infrastructure and financial assets, while Masdar is seeking opportunities in energy and green technology projects as part of its global expansion strategy.
Officials estimate that joint initiatives involving the Russian fund and Middle Eastern partners amount to tens of billions of US dollars, spanning sectors such as infrastructure, energy, logistics, and high technology.
Central to this growing cooperation are key events like the St Petersburg International Economic Forum, which serves as a vital platform for launching cross-border projects and formalizing investment agreements. The 2026 forum is scheduled for June 3–6 and typically attracts participants from the Middle East and around the world.
Historically, the forum has enabled major deals with regional firms such as ACWA Power, involved in energy and water projects, and DP World, engaged in logistics and port infrastructure initiatives.
The Roscongress Foundation stresses that its role extends beyond organizing events—it also offers analytical support, business matchmaking, and follow-up services to help transform initial contacts into active projects.
In 2025, the foundation hosted business forums across Qatar, Oman, the UAE, and Saudi Arabia, highlighting the Middle East’s strategic significance for economic collaboration. That year’s St Petersburg forum drew over 24,200 participants from 144 countries and resulted in 1,060 agreements valued at approximately $80.2 billion, demonstrating strong and sustained investor interest in the Russian market.
Special Analysis by Omanet | Navigate Oman’s Market
The strengthening economic ties between the Middle East and Russia present significant opportunities for Omani businesses to engage in joint industrial, technology, and infrastructure projects within a vast and resource-rich market. For smart investors and entrepreneurs, now is the time to explore strategic partnerships and leverage state-backed platforms like the Russian Direct Investment Fund to access broader Eurasian trade networks, while carefully navigating geopolitical and market risks inherent in these cross-border collaborations.
