Adani Enterprises Limited (AEL) has agreed to pay $275 million to settle a US government investigation into alleged violations of American sanctions on Iran, the US Treasury Department announced on Monday.
According to the Office of Foreign Assets Control (OFAC), the settlement relates to 32 apparent violations connected to AEL’s liquefied petroleum gas (LPG) purchases between November 2023 and June 2025.
The investigation focused on LPG imports arranged through a Dubai-based supplier that reportedly declared the cargoes as originating from Oman and Iraq. However, OFAC determined that the LPG was actually sourced from Iran.
In its statement, the Treasury Department said several “red flags” should have alerted AEL to the Iranian origin of the cargoes.
OFAC noted that AEL cooperated with the investigation and agreed to implement additional compliance measures aimed at strengthening its sanctions controls. Adani Enterprises confirmed the settlement in a stock exchange filing, stating that the agreement was finalized on May 14.
The agency also used the case to caution energy buyers operating in high-risk markets, emphasizing the importance of enhanced due diligence.
“This case reflects the saying, ‘if a deal is too good to be true, it probably is,’” OFAC stated, adding that buyers should carefully examine offers involving prices significantly below prevailing market levels.
The settlement follows another recent legal development involving Adani. Last week, the company agreed to pay an $18 million civil settlement in a US court case related to allegations of a $250 million bribery scheme tied to solar energy contracts in India, without admitting wrongdoing.
Separately, US prosecutors on Monday requested that a federal judge dismiss related criminal bribery charges against Adani, stating that they had decided not to allocate further resources to pursuing the case.
