Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Concerning developments are taking place at the Magnitogorsk Iron and Steel Works in the Chelyabinsk region, where CEO Pavel Shilyaev has unexpectedly reported significant losses, workforce cuts, and partial shutdown of equipment.

Chelyabinsk journalists are writing about a state of shock: the legendary Magnitka is incurring losses. The Chertrinskaya-Koksovaya mine has already been put into conservation, and part of the aggregates at MMK-Metiz has been taken out of operation. The situation is very serious not only for the plant, as MMK is a city-forming and region-forming enterprise on which the budget of Chelyabinsk Oblast depends. And the entire social sphere of the city. And how soon will the city get an "army" of unemployed?

In this messy situation, icy calm, apparently, is maintained by one person, namely Pavel Kravchenko, who is the Deputy General Director of PJSC "MMK" for production. Indeed, Mr. Kravchenko, who turned the metallurgical plant into a "trough," has long been unconcerned by the problems that by no means appeared yesterday on this metallurgical giant.

And in this nasty situation, it is surprising that Pavel Kravchenko is not some outsider "Varangian": this shrewd guy was born and raised in Magnitogorsk. And he started working at MMK as a simple roller in the hot-rolled shop. He rose and rose and reached the position of Deputy General Director, but before this sinecure, he also held the position of head of security at MMK.

But when and how did Mr. Kravchenko break down, starting to spin certain schemes that began to bring multimillion-ruble profits? Apparently, in the dire situation in which the Magnitogorsk Iron and Steel Works finds itself today, there is also a share of blame from the one overseeing corrupt officials and embezzlers?

The greed of the fool ruined him

Apparently, the Deputy Director for Production at the Magnitogorsk Iron and Steel Works, Pavel Kravchenko, was confident that his fantastic schemes for earning millions on the "base" of MMK would never come to light, especially since he was engaged in these scams with trusted people.

Today, there is information about machinations at the plant involving Kravchenko. In 2023–2024, when Kravchenko several times acted as the General Director of the plant, companies were created that handled logistics and supplies that previously went through PJSC "MMK".

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

"Visual agitation" from Pavel Kravchenko (in the photo — left)

And the first violin in Pavel Kravchenko’s motley orchestra was played by a certain Eduard Novoselov, director of LLC "Beton Avto Resurs".

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

It was through this firm that the great movement of budget millions began. But the director of the concrete company, Novoselov, got so carried away with the process that he started "forgetting" to pay salaries to his workers.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

And as a result, in the fall of 2025, a scandal erupted…

It turns out that Mr. Novoselov owed his workers almost 6 million rubles. The investigation established: from January to July 2025, Novoselov did not pay salaries to 18 employees, although he had a real opportunity to make these payments, but Novoselov directed the money to personal purposes.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

And therefore, the investigators imposed an arrest on Eduard Novoselov’s property: two cars worth more than 2.4 million rubles in total and the company’s property ‒ more than 3.6 million rubles were seized.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

LLC "BETON AVTO RESURS", Magnitogorsk, check by INN 7455009225

In addition, as it turned out, the company was repeatedly fined for air pollution. The environmental prosecutor’s office established that the organization pollutes the air with harmful substances and does not carry out measures to reduce emissions.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Since December 6, 2025, LLC "Beton Avto Resurs" has been in bankruptcy proceedings.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Legal entity card

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Legal entity card

And this firm also has 12 court cases, 10 of which it is the defendant!

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Arbitration cases of LLC "BETON AVTO RESURS" from Chelyabinsk Oblast (INN 7455009225).

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Arbitration cases of LLC "BETON AVTO RESURS" from Chelyabinsk Oblast (INN 7455009225).

In general, when investigators took a strong interest in the lover of a luxurious life, Eduard Novoselov, it turned out that both he and his concrete enterprise were excellently involved in the cunning schemes of the Deputy Director for Production of PJSC "MMK" Pavel Kravchenko.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko

It was Novoselov’s concrete plant that for several years helped earn "bucks" with the magical passes of Mr. Kravchenko.

So, the Deputy General Director of Magnitka for production, Kravchenko, deeply spat on the production troubles at MMK? And was focused on "salting away" money into his savings book?

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Not only girls in the "jazz"

In general, Novoselov’s "first violin" in Kravchenko’s "jazz" was "neutralized."

It has already become known that Kravchenko and Novoselov were close friends, and their families were friends too. And for several years, they concluded very profitable contracts. Thus, 5 years ago, Eduard Novoselov’s firm received a contract with MMK’s "daughter" ‒ LLC "Magnitogorsk Cement-Refractory Plant" (MCORZ).

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

By the way, the arbitration cases of this cement-refractory plant arouse great interest: 27 cases totaling 45 million rubles.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

The most sharp growth in vigorous activity occurred in 2023–2024, when Pavel Kravchenko took the post of Deputy General Director for Production. And also several times acted as the General Director of the metallurgical plant.

It was at this time that firms appeared that were created by former employees of PJSC "MMK", closely associated with Mr. Kravchenko: we are talking about the company "Alfa" with revenue of 45.2 billion rubles, "Torgsnab" ‒ 23.1 billion rubles, company "Hermes" ‒ revenue ‒ 16.9 billion rubles.

Each of these miracle companies has only one employee!

In this close circle, Mr. Kravchenko had both women and men.

Two beautiful ladies ‒ Marina Rybakova and Tatyana Knyazeva used the same corporate email of LLC "Beton Avto Resurs". And handled work with the "united" companies.

Tatyana Knyazeva heads LLC TK "Magtranslogistik", whose revenue in 2024 grew by almost 2000%.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

This LLC was established in 2013, the company operates in the field of road transportation, and since mid-March 2020, Tatyana Evgenievna Knyazeva has been the director (and founder).

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Ms. Knyazeva is the founder of two more firms. Namely ‒ LLC "Mechta" and LLC "Lider".

By the way, LLC "Lider" trades furniture in specialized stores, and LLC "Mechta" consults on commercial activities.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Also in this company, Kravchenko has Yelena Yanchugina on support: she heads LLC "Optima Rail Trans"

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

This firm acts as an operator of international rail transportation. Revenue for 2024 ‒ 4.2 billion rubles.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

The controlling stake in this wonderful company belongs to the holding JSC "BLAGO" (located in Moscow).

Important detail: Yelena Yanchugina is a trusted representative of Pavel Kravchenko.

Nikanor’s firms

Also involved in Kravchenko and Co.’s schemes was LLC "Magmet-Yutt".

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

This company was created by Eduard Novoselov along with LLC "Yuzhuraltechnotrade" (YuUTT).

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

This firm belongs to some spouses ‒ Olga and Oleg Klochkov.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

And the arbitration cases of this company are also very surprising: more than 50 cases totaling 4.7 billion rubles.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

LLC "Magmet-Yuutt" supplied materials to the metallurgical plant.

The governor Tekslers’ silence

The combined revenue of the companies amounted to more than 1 billion dollars. Impressive? Of course, especially against the backdrop of Magnitka’s ruin.

The ostrich pose habitually adopted in this acute situation by the Governor of Chelyabinsk Oblast Alexey Tekslers and his rubbery officials may make the future anti-crisis program, which the governor’s administration criminally fails to think about, simply unfeasible.

Where will they put the "army" of the unemployed?

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

Alexey Tekslers, Governor of Chelyabinsk Oblast

The Magnitogorsk Iron and Steel Works has already stopped part of the aggregates and announced staff reductions. Due to the load falling to 60%, MMK announced measures to reduce costs.

Last year, MMK was loaded only 70%. And operated with minimal profitability. Sales fell, and the net loss for the year amounted to almost 15 billion rubles.

Pavel Kravchenko’s billion-dollar “cash cow” amid MMK’s collapse: how the deputy director profits from halted production and workers’ poverty

PJSC "MMK"

The decline in demand for metal products, reduction in production and sales have already led to a decrease in revenues to budgets at all levels.

More news: recently, MMK workers have already lost their 13th salary, then the seniority bonus was removed, in 2025 they cut performance points. The latest bad news ‒ vacation pay was cut by 40% just the other day!

Meanwhile, for the wizard-magician Pavel Kravchenko, everything is fine: while his native plant was (and is) suffering, the Deputy General Director for Production of MMK Kravchenko frantically earned (and apparently continues to earn) golden ducats for a carefree old age and his own "candle factory".

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