diff --git a/openstack_dashboard/api/neutron.py b/openstack_dashboard/api/neutron.py
index 4115a93e24..027bc398a9 100644
--- a/openstack_dashboard/api/neutron.py
+++ b/openstack_dashboard/api/neutron.py
@@ -205,6 +205,8 @@ class SecurityGroup(NeutronAPIDictWrapper):
     def __init__(self, sg, sg_dict=None):
         if sg_dict is None:
             sg_dict = {sg['id']: sg['name']}
+        if 'security_group_rules' not in sg:
+            sg['security_group_rules'] = []
         sg['rules'] = [SecurityGroupRule(rule, sg_dict)
                        for rule in sg['security_group_rules']]
         super(SecurityGroup, self).__init__(sg)
diff --git a/openstack_dashboard/test/test_data/neutron_data.py b/openstack_dashboard/test/test_data/neutron_data.py
index 32e1cd1235..0c5411d7df 100644
--- a/openstack_dashboard/test/test_data/neutron_data.py
+++ b/openstack_dashboard/test/test_data/neutron_data.py
@@ -496,6 +496,10 @@ def data(TEST):
                    'description': 'NotDefault',
                    'id': '443a4d7a-4bd2-4474-9a77-02b35c9f8c95',
                    'name': 'another_group'}
+    sec_group_empty = {'tenant_id': '1',
+                       'description': 'SG without rules',
+                       'id': 'f205f3bc-d402-4e40-b004-c62401e19b4b',
+                       'name': 'empty_group'}
 
     def add_rule_to_group(secgroup, default_only=True):
         rule_egress_ipv4 = {
@@ -557,18 +561,20 @@ def data(TEST):
     add_rule_to_group(sec_group_1, default_only=False)
     add_rule_to_group(sec_group_2)
     add_rule_to_group(sec_group_3)
+    # NOTE: sec_group_empty is a SG without rules,
+    # so we don't call add_rule_to_group.
 
-    groups = [sec_group_1, sec_group_2, sec_group_3]
+    groups = [sec_group_1, sec_group_2, sec_group_3, sec_group_empty]
     sg_name_dict = dict([(sg['id'], sg['name']) for sg in groups])
     for sg in groups:
         # Neutron API.
         TEST.api_security_groups.add(sg)
-        for rule in sg['security_group_rules']:
+        for rule in sg.get('security_group_rules', []):
             TEST.api_security_group_rules.add(copy.copy(rule))
         # OpenStack Dashboard internaly API.
         TEST.security_groups.add(
             neutron.SecurityGroup(copy.deepcopy(sg), sg_name_dict))
-        for rule in sg['security_group_rules']:
+        for rule in sg.get('security_group_rules', []):
             TEST.security_group_rules.add(
                 neutron.SecurityGroupRule(copy.copy(rule), sg_name_dict))
 
diff --git a/openstack_dashboard/test/unit/api/test_neutron.py b/openstack_dashboard/test/unit/api/test_neutron.py
index 619dd7b0e8..9c39a55798 100644
--- a/openstack_dashboard/test/unit/api/test_neutron.py
+++ b/openstack_dashboard/test/unit/api/test_neutron.py
@@ -963,7 +963,9 @@ class NeutronApiSecurityGroupTests(NeutronApiTestBase):
     def _cmp_sg(self, exp_sg, ret_sg):
         self.assertEqual(exp_sg['id'], ret_sg.id)
         self.assertEqual(exp_sg['name'], ret_sg.name)
-        exp_rules = exp_sg['security_group_rules']
+        # When a SG has no rules, neutron API does not contain
+        # 'security_group_rules' field, so .get() method needs to be used.
+        exp_rules = exp_sg.get('security_group_rules', [])
         self.assertEqual(len(exp_rules), len(ret_sg.rules))
         for (exprule, retrule) in six.moves.zip(exp_rules, ret_sg.rules):
             self._cmp_sg_rule(exprule, retrule)
diff --git a/releasenotes/notes/security-group-no-rules-list-bugfix-b77ab5aff1d3e45e.yaml b/releasenotes/notes/security-group-no-rules-list-bugfix-b77ab5aff1d3e45e.yaml
new file mode 100644
index 0000000000..b98292cf71
--- /dev/null
+++ b/releasenotes/notes/security-group-no-rules-list-bugfix-b77ab5aff1d3e45e.yaml
@@ -0,0 +1,5 @@
+---
+fixes:
+  - |
+    [:bug:`1840465`] Fixed a bug where listing security groups did not work
+    if one or more security groups had no rules in them.