Indian conglomerate Adani Enterprises has confirmed its cooperation with a United States investigation into potential sanctions violations involving Iranian-origin energy products. The development follows a Wall Street Journal report from June alleging that Adani Group entities had imported Iranian liquefied petroleum gas (LPG) through Mundra port.
According to a stock-exchange filing submitted on Tuesday, Adani received a formal information request from the US Office of Foreign Assets Control (OFAC) last week. The Treasury Department agency is conducting a civil investigation into transactions that may have involved Iran or interests of persons subject to US sanctions, particularly those routed through American financial institutions.
The company emphasized that its engagement with OFAC began voluntarily following the media report’s publication. In what it described as an ‘abundance of caution,’ Adani immediately ceased all LPG imports on June 2, the same day the Journal’s investigation became public.
Adani maintains that its communication with OFAC ‘does not contain any findings of aberrations/non-compliances’ and has repeatedly denied ‘any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG.’ The conglomerate asserts that the questioned shipment was handled through routine commercial transactions via third-party logistics partners, with documentation identifying Sohar, Oman as the port of origin.
The investigation represents a significant regulatory challenge for the ports-to-power conglomerate led by billionaire Gautam Adani, though the company expresses confidence in its compliance procedures and commitment to full cooperation with US authorities.