Adani Enterprises announced Tuesday that U.S. authorities are conducting a civil investigation into its transactions that may have involved Iran or countries subject to U.S. sanctions.
The flagship company of billionaire Gautam Adani’s group announced on February 4 that it had received a request for information from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), following a voluntary debate over a June 2025 Wall Street Journal report that said Adani-related companies imported Iranian liquefied petroleum gas into India using shipping routes that may have been designed to avoid it. US sanctions.
WSJ also reported that Gautam Adani was trying to get US President Donald Trump’s administration to drop bribery charges in an unrelated case.
At the time of the report, Adani Enterprises strongly denied “any intentional involvement” in sanctions evasion or trade involving Iranian liquefied petroleum gas.
The company announced Tuesday that it had “actively and voluntarily” begun discussions with OFAC regarding the allegations raised in media reports, adding that the U.S. government agency had indicated it was conducting a civil investigation into certain corporate transactions processed through U.S. financial institutions that may have been directly or indirectly involved with Iran or countries subject to U.S. sanctions.
Adani Enterprises said OFAC’s notice does not include any findings of violation or noncompliance and that no financial impact is expected from the matter.
The company has completely suspended imports of liquefied petroleum gas since June 2 last year, and announced that LPG accounted for 1.46% of its sales in fiscal 2025.
The company’s stock, which had fallen more than 3% after the disclosure, came off its lows and was trading 0.3% lower by 12:15 pm IST.
Adani Group has been under continued scrutiny since early 2023, when US short seller Hindenburg Research accused the company of stock price manipulation and accounting fraud, allegations the conglomerate denies.
Since then, the group has faced increased regulatory, legal and market pressure, including U.S. prosecutors investigating separate foreign bribery charges.
(Reporting by Hritam Mukherjee and Nandan Mandayam in Bengaluru; Writing by Chandini Monnappa; Editing by Mrigank Dhaniwala)
