Russian Agricultural Bank () is a 100% state-owned bank regulated by the Bank of Russia. RusAg provides lending support to Russian

agribusiness Agribusiness is the industry, enterprises, and the field of study of value chains in agriculture and in the bio-economy, in which case it is also called bio-business or bio-enterprise. The primary goal of agribusiness is to maximize profit ...

companies.

History

Modern agribusiness production systems are capital intensive. A large portion of capital used in agribusiness is borrowed. The agrarian credit system in Russia goes back to 1882 when the first specialized banks – ‘Peasant Land Bank’ and ‘Gentry Land Bank’ – were established. During the Soviet period, about 90% of all long-term loans were extended to agribusiness. The 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 Vladimir Vladimirovich Putin (born 7 October 1952) is a Russian politician and former intelligence officer who has served as President of Russia since 2012, having previously served from 2000 to 2008. Putin also served as Prime Minister of Ru ...

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. 100% of RusAg’s shares are controlled by the Russian Federation acting through the Federal Agency for Managing State Property which holds the bank's issued and outstanding ordinary shares (78.66% from total share capital (31 December 2018: 77.11% from total share capital)), the Ministry of Finance of the Russian Federation which holds the bank's issued and outstanding preference shares (5.69% from total share capital (31 December 2018: 6.1% from total share capital)) and the State Corporation "Deposit Insurance Agency" which holds the bank's issued and outstanding preference shares (15.65% from total share capital (31 December 2018: 16.79% from total share capital)). Dmitry Nikolaevich Patrushev has been the chairman of the bank's supervisory board since June 2018. In 2020, the bank launched its Svoe.Farming ecosystem, 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. In 2022, the Svoe ecosystem united over 30 business services and subplatforms.

Sanctions

This bank has been sanctioned by the United Kingdom since 1 August 2014, with additional sanctions in December 2023 which ban correspondent banking relationships. On February 24, 2022, US President

Joe Biden Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party (United States), Democratic Party, he served as the 47th vice p ...

imposed

economic sanctions Economic sanctions or embargoes are Commerce, commercial and Finance, financial penalties applied by states or institutions against states, groups, or individuals. Economic sanctions are a form of Coercion (international relations), coercion tha ...

on RusAg and other Russian financial institutions in response to Russia's

invasion An invasion is a Offensive (military), military offensive of combatants of one geopolitics, geopolitical Legal entity, entity, usually in large numbers, entering territory (country subdivision), territory controlled by another similar entity, ...

Ukraine Ukraine is a country in Eastern Europe. It is the List of European countries by area, second-largest country in Europe after Russia, which Russia–Ukraine border, borders it to the east and northeast. Ukraine also borders Belarus to the nor ...

. The European Union imposed full sanctions on RusAg in 2022. This included a full exclusion from the

SWIFT Swift or SWIFT most commonly refers to: * SWIFT, an international organization facilitating transactions between banks ** SWIFT code * Swift (programming language) * Swift (bird), a family of birds It may also refer to: Organizations * SWIF ...

network, having all its assets in the union frozen, restrictions on dealing with the bank, and a ban on financial services from EU firms.

References

External links

*
Annual report 2019

Meeting with Rosselkhozbank (Russian Agricultural Bank) Board Chairman Boris Listov

Russian Agricultural Bank from Moscow, Russia is ranked in the Top 1000 World Banks by Tier 1 2020

Russian Agricultural Bank shrugs off crisis thanks to specialist focus

Russian Agricultural Bank to get $137 million capital injection
{{authority control Russian brands Companies based in Moscow Banks established in 2000 Russian companies established in 2000 Russian entities subject to U.S. Department of the Treasury sanctions Government-owned banks of Russia