Russian Agricultural Bank (RusAg) was set up on March 15, 2000 under the special decree of the acting president of the Russian Federation Vladimir Putin with the mission to be the conductor of the state credit and financial policy in the agribusiness sector, to facilitate a strong performance by clients, to invest in the core businesses and technology and to be the basis of the national credit and financial system of agribusiness in the Russian Federation.

Dmitry Nikolaevich Patrushev has been the chairman of the bank's supervisory board since June 2018.

[3][4][5] In 2020, Rosselkhozbank launched the Svoe.Farming ecosystem,[6][7] which is designed for the comprehensive digitalization of small enterprises engaged in the agro-industrial complex, and also helps with the sale of farm products using the Svoe Rodnoye marketplace.

[8][9] For 2022, the Svoe ecosystem unites over 30 business services and subplatforms[10] This bank has been sanctioned by the United Kingdom since 1 August 2014,[11] with additional sanctions in December 2023 which ban correspondent banking relationships.

[12] On February 24, 2022, US President Joe Biden imposed economic sanctions on RusAg and other Russian financial institutions in response to Russia's invasion of Ukraine.