Adani Enterprises Settles U.S. Sanctions Case With Treasury for $275 Million

Adani Enterprises Ltd., the flagship company of the Indian conglomerate Adani Group, has agreed to pay $275 million to settle a U.S. Treasury Department investigation into apparent violations of sanctions on Iran. The settlement with the Office of Foreign Assets Control (OFAC) resolves potential civil liability related to the company's imports of liquefied petroleum gas (LPG).

According to the Treasury Department, between November 2023 and June 2025, Adani Enterprises purchased LPG shipments from a Dubai-based trader that were presented as originating from Oman and Iraq. Treasury officials stated that the shipments actually originated from Iran, and that "red flags" should have alerted the company to the sanctions risk. The transactions resulted in approximately $192 million in payments being processed through U.S. financial institutions.

The settlement does not constitute a finding of guilt. In its order, OFAC noted several mitigating factors that led to the reduced penalty, which was below the statutory maximum of approximately $384 million. The agency cited the company's lack of prior penalty notices, the relatively small size of its LPG business, and its "substantial...