Adani Enterprises has agreed to pay $275 million (around ₹2,650 crore) to the US Treasury after investigations found that the company purchased sanctioned Iranian liquefied petroleum gas (LPG) worth $192 million between November 2023 and June 2025.
The settlement marks the latest development in a series of legal and regulatory cases involving the Adani Group in the US. Last week, Gautam Adani and his nephew settled a separate US Securities and Exchange Commission case by paying $18 million. The US Department of Justice reportedly dropped criminal fraud charges related to that matter.
With these developments, all ongoing investigations and charges against the Adani Group in the US appear to have been resolved, ending more than 18 months of uncertainty surrounding the conglomerate.
In a stock exchange filing, Adani Enterprises said it had purchased LPG from a Dubai-based trader that claimed the cargo originated from Oman and Iraq.
The company made payments worth $192.1 million through 32 dollar-denominated transactions routed via US financial institutions.
Adani Enterprises said it voluntarily approached the US Office of Foreign Assets Control (OFAC) after a June 2025 report by The Wall Street Journal revealed that US prosecutors were examining whether the company had imported Iranian LPG.
OFAC, a division of the US Treasury Department responsible for enforcing international sanctions, later conducted an investigation into the transactions.
According to the company’s disclosure, OFAC concluded that multiple “red flags” should have alerted Adani Enterprises that the LPG may have originated from Iran.
The regulator also stated that the company did not voluntarily self-disclose the violations and classified the case as “egregious”.
“OFAC determined that red flags should have put AEL on notice that the LPG actually originated from Iran,” the filing noted.
The settlement amount is significant compared with the company’s earnings. Adani Enterprises reported a net profit of ₹10,777 crore in FY26, meaning the settlement equals roughly one-fourth of its annual profit.
The Wall Street Journal had earlier reported that several LPG tankers travelling between the Persian Gulf and Adani’s Mundra port in Gujarat displayed suspicious shipping behaviour often associated with sanctions evasion.
US investigators further observed that the LPG purchased by Adani Enterprises was priced significantly below prevailing market rates, which should have prompted greater scrutiny regarding the cargo’s origin.
The regulator added that the company relied mainly on assurances from the Dubai supplier that the LPG was not of Iranian origin, despite third-party allegations suggesting otherwise.