The Adani Group has reached a $275 million settlement with the US Treasury Department’s Office of Foreign Assets Control (OFAC) over alleged violations of Iran sanctions. The matter involved the indirect import of Iranian Liquefied Petroleum Gas (LPG) through India’s Mundra Port between November 2023 and June 2025.
According to official disclosures, Adani Enterprises Limited (AEL) purchased the shipments via a Dubai-based trader that claimed the gas originated from Oman and Iraq. In reality, the supplier acted as a conduit for illicit Iranian cargo. OFAC noted that none of the involved parties were sanctioned at the time, and no documentation explicitly pointed to Iran. However, the agency highlighted that Adani’s compliance program initially lacked sufficient measures to flag such risks.
The $275 million agreement resolves potential civil liabilities without constituting an admission of guilt or wrongdoing. Under OFAC guidelines, the statutory maximum penalty could have reached $384 million. The agency reduced the amount significantly after AEL voluntarily self-reported the issue in 2025, immediately suspended all LPG imports, and extended extensive cooperation to US investigators.
This settlement follows a separate $18 million agreement with the US Securities and Exchange Commission last week regarding bribery allegations. Together, the resolution of these US regulatory matters is expected to clear a major legal overhang for the conglomerate. Despite months of intense scrutiny, the Adani Group has maintained robust financial growth, reporting a record EBITDA of approximately $5.3 billion in the first half of fiscal year 2026.
