diff --git a/nbd/server.c b/nbd/server.c
index e91e2e0903..941832f178 100644
--- a/nbd/server.c
+++ b/nbd/server.c
@@ -125,23 +125,25 @@ struct NBDClient {
     int refcount; /* atomic */
     void (*close_fn)(NBDClient *client, bool negotiated);
 
+    QemuMutex lock;
+
     NBDExport *exp;
     QCryptoTLSCreds *tlscreds;
     char *tlsauthz;
     QIOChannelSocket *sioc; /* The underlying data channel */
     QIOChannel *ioc; /* The current I/O channel which may differ (eg TLS) */
 
-    Coroutine *recv_coroutine;
+    Coroutine *recv_coroutine; /* protected by lock */
 
     CoMutex send_lock;
     Coroutine *send_coroutine;
 
-    bool read_yielding;
-    bool quiescing;
+    bool read_yielding; /* protected by lock */
+    bool quiescing; /* protected by lock */
 
     QTAILQ_ENTRY(NBDClient) next;
-    int nb_requests;
-    bool closing;
+    int nb_requests; /* protected by lock */
+    bool closing; /* protected by lock */
 
     uint32_t check_align; /* If non-zero, check for aligned client requests */
 
@@ -1415,11 +1417,18 @@ nbd_read_eof(NBDClient *client, void *buffer, size_t size, Error **errp)
 
         len = qio_channel_readv(client->ioc, &iov, 1, errp);
         if (len == QIO_CHANNEL_ERR_BLOCK) {
-            client->read_yielding = true;
+            WITH_QEMU_LOCK_GUARD(&client->lock) {
+                client->read_yielding = true;
+
+                /* Prompt main loop thread to re-run nbd_drained_poll() */
+                aio_wait_kick();
+            }
             qio_channel_yield(client->ioc, G_IO_IN);
-            client->read_yielding = false;
-            if (client->quiescing) {
-                return -EAGAIN;
+            WITH_QEMU_LOCK_GUARD(&client->lock) {
+                client->read_yielding = false;
+                if (client->quiescing) {
+                    return -EAGAIN;
+                }
             }
             continue;
         } else if (len < 0) {
@@ -1528,6 +1537,7 @@ void nbd_client_put(NBDClient *client)
             blk_exp_unref(&client->exp->common);
         }
         g_free(client->contexts.bitmaps);
+        qemu_mutex_destroy(&client->lock);
         g_free(client);
     }
 }
@@ -1561,11 +1571,13 @@ static void client_close(NBDClient *client, bool negotiated)
 {
     assert(qemu_in_main_thread());
 
-    if (client->closing) {
-        return;
-    }
+    WITH_QEMU_LOCK_GUARD(&client->lock) {
+        if (client->closing) {
+            return;
+        }
 
-    client->closing = true;
+        client->closing = true;
+    }
 
     /* Force requests to finish.  They will drop their own references,
      * then we'll close the socket and free the NBDClient.
@@ -1579,6 +1591,7 @@ static void client_close(NBDClient *client, bool negotiated)
     }
 }
 
+/* Runs in export AioContext with client->lock held */
 static NBDRequestData *nbd_request_get(NBDClient *client)
 {
     NBDRequestData *req;
@@ -1591,6 +1604,7 @@ static NBDRequestData *nbd_request_get(NBDClient *client)
     return req;
 }
 
+/* Runs in export AioContext with client->lock held */
 static void nbd_request_put(NBDRequestData *req)
 {
     NBDClient *client = req->client;
@@ -1614,14 +1628,18 @@ static void blk_aio_attached(AioContext *ctx, void *opaque)
     NBDExport *exp = opaque;
     NBDClient *client;
 
+    assert(qemu_in_main_thread());
+
     trace_nbd_blk_aio_attached(exp->name, ctx);
 
     exp->common.ctx = ctx;
 
     QTAILQ_FOREACH(client, &exp->clients, next) {
-        assert(client->nb_requests == 0);
-        assert(client->recv_coroutine == NULL);
-        assert(client->send_coroutine == NULL);
+        WITH_QEMU_LOCK_GUARD(&client->lock) {
+            assert(client->nb_requests == 0);
+            assert(client->recv_coroutine == NULL);
+            assert(client->send_coroutine == NULL);
+        }
     }
 }
 
@@ -1629,6 +1647,8 @@ static void blk_aio_detach(void *opaque)
 {
     NBDExport *exp = opaque;
 
+    assert(qemu_in_main_thread());
+
     trace_nbd_blk_aio_detach(exp->name, exp->common.ctx);
 
     exp->common.ctx = NULL;
@@ -1639,8 +1659,12 @@ static void nbd_drained_begin(void *opaque)
     NBDExport *exp = opaque;
     NBDClient *client;
 
+    assert(qemu_in_main_thread());
+
     QTAILQ_FOREACH(client, &exp->clients, next) {
-        client->quiescing = true;
+        WITH_QEMU_LOCK_GUARD(&client->lock) {
+            client->quiescing = true;
+        }
     }
 }
 
@@ -1649,28 +1673,48 @@ static void nbd_drained_end(void *opaque)
     NBDExport *exp = opaque;
     NBDClient *client;
 
+    assert(qemu_in_main_thread());
+
     QTAILQ_FOREACH(client, &exp->clients, next) {
-        client->quiescing = false;
-        nbd_client_receive_next_request(client);
+        WITH_QEMU_LOCK_GUARD(&client->lock) {
+            client->quiescing = false;
+            nbd_client_receive_next_request(client);
+        }
     }
 }
 
+/* Runs in export AioContext */
+static void nbd_wake_read_bh(void *opaque)
+{
+    NBDClient *client = opaque;
+    qio_channel_wake_read(client->ioc);
+}
+
 static bool nbd_drained_poll(void *opaque)
 {
     NBDExport *exp = opaque;
     NBDClient *client;
 
+    assert(qemu_in_main_thread());
+
     QTAILQ_FOREACH(client, &exp->clients, next) {
-        if (client->nb_requests != 0) {
-            /*
-             * If there's a coroutine waiting for a request on nbd_read_eof()
-             * enter it here so we don't depend on the client to wake it up.
-             */
-            if (client->recv_coroutine != NULL && client->read_yielding) {
-                qio_channel_wake_read(client->ioc);
+        WITH_QEMU_LOCK_GUARD(&client->lock) {
+            if (client->nb_requests != 0) {
+                /*
+                 * If there's a coroutine waiting for a request on nbd_read_eof()
+                 * enter it here so we don't depend on the client to wake it up.
+                 *
+                 * Schedule a BH in the export AioContext to avoid missing the
+                 * wake up due to the race between qio_channel_wake_read() and
+                 * qio_channel_yield().
+                 */
+                if (client->recv_coroutine != NULL && client->read_yielding) {
+                    aio_bh_schedule_oneshot(nbd_export_aio_context(client->exp),
+                                            nbd_wake_read_bh, client);
+                }
+
+                return true;
             }
-
-            return true;
         }
     }
 
@@ -1681,6 +1725,8 @@ static void nbd_eject_notifier(Notifier *n, void *data)
 {
     NBDExport *exp = container_of(n, NBDExport, eject_notifier);
 
+    assert(qemu_in_main_thread());
+
     blk_exp_request_shutdown(&exp->common);
 }
 
@@ -2566,7 +2612,6 @@ static int coroutine_fn nbd_co_receive_request(NBDRequestData *req,
     int ret;
 
     g_assert(qemu_in_coroutine());
-    assert(client->recv_coroutine == qemu_coroutine_self());
     ret = nbd_receive_request(client, request, errp);
     if (ret < 0) {
         return ret;
@@ -2975,6 +3020,9 @@ static coroutine_fn void nbd_trip(void *opaque)
      */
 
     trace_nbd_trip();
+
+    qemu_mutex_lock(&client->lock);
+
     if (client->closing) {
         goto done;
     }
@@ -2990,7 +3038,21 @@ static coroutine_fn void nbd_trip(void *opaque)
     }
 
     req = nbd_request_get(client);
-    ret = nbd_co_receive_request(req, &request, &local_err);
+
+    /*
+     * nbd_co_receive_request() returns -EAGAIN when nbd_drained_begin() has
+     * set client->quiescing but by the time we get back nbd_drained_end() may
+     * have already cleared client->quiescing. In that case we try again
+     * because nothing else will spawn an nbd_trip() coroutine until we set
+     * client->recv_coroutine = NULL further down.
+     */
+    do {
+        assert(client->recv_coroutine == qemu_coroutine_self());
+        qemu_mutex_unlock(&client->lock);
+        ret = nbd_co_receive_request(req, &request, &local_err);
+        qemu_mutex_lock(&client->lock);
+    } while (ret == -EAGAIN && !client->quiescing);
+
     client->recv_coroutine = NULL;
 
     if (client->closing) {
@@ -3002,15 +3064,16 @@ static coroutine_fn void nbd_trip(void *opaque)
     }
 
     if (ret == -EAGAIN) {
-        assert(client->quiescing);
         goto done;
     }
 
     nbd_client_receive_next_request(client);
+
     if (ret == -EIO) {
         goto disconnect;
     }
 
+    qemu_mutex_unlock(&client->lock);
     qio_channel_set_cork(client->ioc, true);
 
     if (ret < 0) {
@@ -3030,6 +3093,10 @@ static coroutine_fn void nbd_trip(void *opaque)
         g_free(request.contexts->bitmaps);
         g_free(request.contexts);
     }
+
+    qio_channel_set_cork(client->ioc, false);
+    qemu_mutex_lock(&client->lock);
+
     if (ret < 0) {
         error_prepend(&local_err, "Failed to send reply: ");
         goto disconnect;
@@ -3044,11 +3111,13 @@ static coroutine_fn void nbd_trip(void *opaque)
         goto disconnect;
     }
 
-    qio_channel_set_cork(client->ioc, false);
 done:
     if (req) {
         nbd_request_put(req);
     }
+
+    qemu_mutex_unlock(&client->lock);
+
     if (!nbd_client_put_nonzero(client)) {
         aio_co_reschedule_self(qemu_get_aio_context());
         nbd_client_put(client);
@@ -3059,13 +3128,19 @@ disconnect:
     if (local_err) {
         error_reportf_err(local_err, "Disconnect client, due to: ");
     }
+
     nbd_request_put(req);
+    qemu_mutex_unlock(&client->lock);
 
     aio_co_reschedule_self(qemu_get_aio_context());
     client_close(client, true);
     nbd_client_put(client);
 }
 
+/*
+ * Runs in export AioContext and main loop thread. Caller must hold
+ * client->lock.
+ */
 static void nbd_client_receive_next_request(NBDClient *client)
 {
     if (!client->recv_coroutine && client->nb_requests < MAX_NBD_REQUESTS &&
@@ -3091,7 +3166,9 @@ static coroutine_fn void nbd_co_client_start(void *opaque)
         return;
     }
 
-    nbd_client_receive_next_request(client);
+    WITH_QEMU_LOCK_GUARD(&client->lock) {
+        nbd_client_receive_next_request(client);
+    }
 }
 
 /*
@@ -3108,6 +3185,7 @@ void nbd_client_new(QIOChannelSocket *sioc,
     Coroutine *co;
 
     client = g_new0(NBDClient, 1);
+    qemu_mutex_init(&client->lock);
     client->refcount = 1;
     client->tlscreds = tlscreds;
     if (tlscreds) {
