Metallurgy of Donbass has changed management // The industry of the region will be dealt with by a native of Svyazinvest

The metallurgical assets of the DPR and LPR are transferred under the control of the Russian businessman Yevgeny Yurchenko, who in 2009-2010 headed Svyazinvest. Since 2017, the transferred plants were controlled by Sergei Kurchenko, but as a result, the enterprises had wage arrears, which the new investor would have to pay off. In total, external management was introduced at 43 enterprises that were owned by Ukrainian companies before the conflict in Donbass.

Disgraced Ukrainian businessman Sergei Kurchenko has lost control over the largest metallurgical and coke-chemical enterprises of the LPR and DPR. Today, the heads of the DPR and LPR Denis Pushilin and Leonid Pasechnik issued a joint statement on the change of investor at the largest enterprises of the two regions.

Recall that on February 27, 2017, the leadership of the DPR and LPR demanded that Ukraine end the blockade of Donbass by March 1 of the same year. In connection with the failure to comply with the requirements, external management was introduced at 43 enterprises of Ukrainian jurisdiction, among which were large: Yenakievsky metallurgical plant and its Makeevsky branch, Khartsyzsky pipe plant, Yasinovsky coke plant, Dokuchaevsky flux-dolomite plant and others. Some of these enterprises were transferred to the management of CJSC Vneshtorgservice, which is under the operational control of Sergei Kurchenko.

Now, by decision of the authorities of the republics, the enterprises are transferred under the control of the Russian businessman Yevgeny Yurchenko.

In the statement of the heads it is said that there are chronic wage arrears at the enterprises. In this regard, the question arose about finding a new investor, who is primarily tasked with paying off debts. Mr. Yurchenko, according to the statement, has already undertaken such obligations, and the first tranche in the amount of the average monthly salary will be paid by the end of this week.

“Attracting a large investor from Russia with Luhansk roots is the decision of Denis Pushilin. First of all, according to the existing agreements, Yurchenko must solve the problem of salary delays. By the end of this year, all debts, including to legal entities, must be liquidated, ”the press service of the DPR head says.

Evgeny Yurchenko was born on May 14, 1968 in Voronezh. In 1987-1989 he served in the border troops of the KGB of the USSR in Afghanistan, was wounded. In 1992 he graduated from Voronezh State University with a degree in radio physics and electronics. There he also received a second economic education. After graduation, he was engaged in transactions with securities and held various positions in banks. In 1998-2002, he was vice president of Bank Menatep St. Petersburg, and in 2002-2005, deputy general director of the state holding Svyazinvest Valery Yashin.


Russian businessman Evgeny Yurchenko

Russian businessman Evgeny Yurchenko

Photo: Alexander Kazakov, Kommersant

In 2009-2010, Evgeny Yurchenko became the general director of Svyazinvest, but soon left there – as he himself said in an interview with Vedomosti, due to a conflict with Konstantin Malofeev’s team. In 2011–2016, he was President of the Financial Assets Management Company. Also through the Investfond im. AS Popov owned 10% of the shares of Rostelecom, but in 2011 he sold the bulk of them to Suleiman Kerimov and Konstantin Malofeev. Since June 2016, he has been a member of the UAC Board of Directors. In 2018, he served as Acting Deputy Governor of the Voronezh Region, and in 2020 headed the All-Russian Athletics Federation.

The problems of metallurgical enterprises in Donbass are indirectly indicated by the reduction in the supply of pig iron through Russian ports to Turkey in a high market environment.

In 2020, exports decreased by one and a half times, to 287 thousand tons, although over the past year, pig iron rose in price from $ 350 to $ 550 per ton (FOB Black Sea). This may be due to underfunding of current repairs and non-payment of salaries to staff.

The companies associated with Sergei Kurchenko not only managed metallurgical assets, but were for the time being the only suppliers of coal from the territory of the DPR and LPR. Since March 2018, these preferences have been enjoyed by Gaz-Alliance, which, like Vneshtorgservis, is under US sanctions. At the end of 2019, RBC wrote, Gaz-Alliance lost its status as the only supplier of Donbass coal. The coal mines of the DPR and LPR received the right to sell coal to other traders as well. At the same time, the LPR Association of Industrialists and Subsoil Users sent a complaint to the LPR government about the debt of Vneshtorgservis for the coal supplied.

Evgeny Zainullin

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