Adani to pay $275 mn settlement to US over alleged Iran violations

TDT | Manama

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One of Indian billionaire industrialist Gautam Adani’s companies will pay the United States $275 million to settle a probe into whether it violated Washington’s sanctions against Iran, the US Treasury said in a statement yesterday.

The Office of Foreign Assets Control (OFAC) said the agreement had been reached with Adani Enterprises Limited (AEL), part of the magnate’s sprawling multinational conglomerate of companies.

“AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC’s Iran sanctions,” the Treasury said, pointing to AEL’s purchases of liquefied petroleum gas (LPG) between November 2023 and June 2025.

Monday’s US settlement announcement said AEL had cooperated with OFAC’s probe and agreed to additional nonmonetary remedial measures to strengthen compliance with US sanctions.

The probe focused on LPG imports arranged through a Dubai-based supplier that claimed to be exporting Omani and Iraqi gas, OFAC said.

Adani Enterprises confirmed the settlement in a stock exchange filing made on Monday, saying the agreement was executed on May 14.

The announcement came days after Adani agreed to pay a separate $18 million settlement in a US civil court case linked to corruption, without admitting guilt.