The U.S. Treasury Department’s OFAC has announced a $275 million settlement with Adani Enterprises Limited over alleged violations of U.S. sanctions on Iran.
According to OFAC, Adani Enterprises bought multiple LPG shipments between November 2023 and June 2025 from a Dubai-based trader that claimed the gas came from Oman and Iraq. However, investigators said several warning signs suggested the LPG was actually of Iranian origin.
OFAC said Adani Enterprises caused 32 U.S. dollar transactions worth around $192.1 million to pass through U.S. financial institutions to pay for these shipments. The transactions allegedly violated U.S. sanctions under the Iranian Transactions and Sanctions Regulations.
The U.S. agency described the violations as “egregious” and said the company did not voluntarily self-disclose the matter under OFAC guidelines. However, OFAC acknowledged that Adani later cooperated extensively with the investigation and shared information with regulators.
The settlement agreement requires Adani Enterprises to pay $275 million to the U.S. Treasury within 15 days through electronic transfer. The company also agreed to waive any future legal claims or objections related to the investigation and settlement.
OFAC said Adani has already ended the allegedly violative conduct and committed to maintaining a sanctions compliance program for at least five years. The company must implement stronger internal controls to prevent similar cases in the future.
As part of the compliance commitments, Adani’s senior management reviewed and approved enhanced sanctions policies. The company also agreed to give its compliance teams more authority, resources, technology support, and operational independence.
The agreement further states that Adani will promote a stronger “culture of compliance” across the organization and introduce additional safeguards to reduce the risk of future sanctions violations linked to Iran-related trade activities.
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