Adani Group Settles with US Over Sanctions Violation Allegations
Adani Group has reached a settlement with the U.S. Treasury Department’s OFAC over alleged sanctions violations involving Iranian LPG imports. The group, led by Gautam Adani, agreed to pay USD 275 million without admitting guilt. The resolution is part of broader legal settlements Adani faces in the U.S.
The Adani Group, under investigation for alleged sanctions violations, has reached a settlement with the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). The resolution involves a USD 275 million payment addressing violations related to importing Iranian LPG through Mundra Port in Gujarat. The announced settlement does not attribute guilt or wrongdoing to Adani Enterprises Ltd.
The case concerns shipments from November 2023 to June 2025, where Adani purchased LPG from a Dubai-based trader, purportedly supplying Omani and Iraqi gas. Investigations revealed the gas was illicitly sourced from Iran. No involved parties were sanctioned during the transaction, and documents failed to indicate Iranian origins.
The disclosure follows proactive cooperation by Adani, including extensive documentation to OFAC. Enhanced compliance measures have been implemented by Adani to prevent future risks. The settlement is part of multiple U.S. investigations involving Gautam Adani, also addressing DOJ and SEC concerns.
(With inputs from agencies.)
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