In light of current events: the world's largest building materials manufacturer, Knauf, is leaving Russia.

The German manufacturer announced its intention to transfer its Russian business to local management. 

In light of current events, Knauf Group has decided to exit its business in Russia after more than 30 years of operation., the company said in a statement.

The deal requires approval from the Russian authorities. If approved, the management of Knauf's Russian subsidiary will inherit the business of raw material extraction, production, and distribution of construction materials. 

Knauf expects the deal to preserve jobs for more than four thousand employees.

Earlier, the German television channel ARD accused the company of participating in the restoration MariupolPhotos from construction sites showed products bearing the company's logo, and an official dealer publicly reported on a residential building construction project commissioned by the Russian Ministry of Defense.

The day before, the German prosecutor's office launched an investigation into this accusation, a representative of the agency said. Tobias KostukhLast fall, Ukraine itself included Knauf in its list of "international sponsors of war."