The U.S. Department of the Treasury announced that the Indian company Adani Enterprises has agreed to pay $275 million to settle a case related to violations of Iran sanctions.
The Treasury Department’s Office of Foreign Assets Control (OFAC) said on May 18 that the Ahmedabad-based company violated Iran-related sanctions in 32 separate instances between November 2023 and June 2025.
According to OFAC’s statement, Adani purchased shipments of liquefied petroleum gas (LPG) from a Dubai-based trading firm that claimed the gas originated from Oman and Iraq. However, several red flags and prior warnings suggested that the shipments were actually sourced from Iran.
The U.S. Treasury Department said the company caused 32 dollar-denominated transactions to pass through U.S. financial institutions during these deals, with the total value of the transactions reaching nearly $192 million.
The statement added that OFAC classified Adani’s violations as “egregious” and noted that the company did not voluntarily disclose the violations before the investigation began.
