The forward could have been a restricted free agent July 13.
Kravtsov had 13 points (six goals, seven assists) in 19 games for Traktor of the Kontinental Hockey League this season and 10 points (seven goals, three assists) in 15 playoff games.
The 22-year-old was loaned to Traktor at his request after he did not make the Rangers roster out of training camp and did not accept an assignment to Hartford of the American Hockey League.
"After discussions with Vitali and his representation, we decided a loan to Traktor was in the best interests of both him and the organization," Rangers general manager Chris Drury said Nov. 3. "We think very highly of Vitali and the Rangers development staff will continue to work with him to reach our mutual goal of him some day being a New York Ranger."
Kravtsov said at the time he was pleased with the chance to return home to Russia to play this season.
"I want to thank the Rangers for working with me and appreciate the open and honest conversations we have had during this process," Kravtsov said. "While this has been a challenging time for me personally, I believe having the opportunity to return to Traktor and work on my game is the best thing for me right now. My main focus is getting better every day to continue toward my goal of playing hockey for the New York Rangers."
Selected by the Rangers in the first round (No. 9) of the 2018 NHL Draft, Kravtsov has four points (two goals, two assists) in 20 NHL games, all during the 2020-21 season.
