A report by The Wall Street Journal has triggered fresh controversy for the Adani Group, alleging that the conglomerate may have imported liquefied petroleum gas (LPG) from Iran — a country currently under tough US sanctions — through its Mundra port in Gujarat.
The accusations centre around tanker movements between the Persian Gulf and India, which reportedly showed patterns typically associated with efforts to dodge sanctions.
The US Justice Department is said to be reviewing the activity of several LPG tankers that allegedly supplied cargoes to Adani Enterprises.
According to the report, these vessels displayed behaviours common among ships trying to mask the origin of their cargo, such as switching off location transponders and indirect routing — tactics often used to obscure ties with Iran.
Adani hits back: ‘Baseless and mischievous’
In response, the Adani Group has come out strongly against the allegations. In a public statement, the group called the WSJ report “baseless and mischievous”, denying any deliberate involvement in sanctions evasion or any trade involving Iranian-origin LPG. “We are not aware of any investigation by US authorities on this subject,” the company clarified.
The statement went further, accusing the WSJ of relying on “incorrect assumptions and speculation”, and warned that any suggestion of wrongdoing would not only be false but also a deliberate attempt to tarnish the company’s reputation. Adani asserted that it fully reserves its rights on the matter.
The timing of the story adds more complexity. Although the Trump administration is no longer in power, its legacy on Iran sanctions still matters. Back when he was in office, Donald Trump had made it clear: any country or company doing business with Iran’s oil or petrochemical sector would be slapped with “secondary sanctions”. That essentially meant blacklisting them from doing business with the US altogether.
Trump had posted this warning on Truth Social, saying anyone caught buying from Iran would be shut out of the American market. The post formed part of his broader “maximum pressure” campaign against Iran, aimed at isolating Tehran and cutting off its revenue streams, particularly those linked to oil. The former US president had also cited Iran’s alleged financing of militant groups and nuclear ambitions as reasons for his hardline stance.
The WSJ story also mentions that this probe may have ripple effects on other cases involving the Adani Group — including a separate bribery investigation linked to a solar project contract between Adani and Azure Power. That project, under a build-operate-transfer model, had earlier raised eyebrows over potential irregularities.
Now, with the US reportedly easing the heat on certain corporate offences, there’s speculation about whether Adani-linked executives could see some relief.
Interestingly, this investigation is playing out even as the US seems to be softening its approach towards certain white-collar crimes. A recent executive order signed by Donald Trump directs the US Justice Department to pull back on prosecuting Americans involved in foreign bribery, public corruption, crypto irregularities, and even sanctions-related cases.
Attorney General Pam Bondi has reportedly told prosecutors to shift focus towards drug cartels and global crime networks rather than international business deals. As a result, legal experts are suggesting that the definition of what counts as a crime in corporate settings might be shifting — something that could have legal consequences for global firms, including Adani.