Russell is a city in Lyon County, Minnesota, United States. The population was 348 at the 2020 census. Russell was platted in 1888, and nameā¦Russell is a city in Lyon County, Minnesota, United States. The population was 348 at the 2020 census. Russell was platted in 1888, and named for Russell Spicer, the son of the settler credited with bringing the railroad to the community. A post office has been in operation at Russell since 1889. Russell was incorporated in 1898.