Who Would Gain From Knauf’s Russian Exit?

Knauf, the German construction giant with a substantial footprint in the U.S. market, has reportedly entered negotiations to sell its Russian assets to Gazprombank, a state-owned Russian financial institution that is sanctioned by the U.S. and the E.U. Knauf’s efforts to divest its business in Russia align with public commitments to exit the market, but the possible selection of Gazprombank as a buyer raises concerns about sanctions and the potential beneficiaries of the deal.