US reaches $275M settlement with India's Adani over alleged Iran sanctions violations

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Washington DC: The United States Treasury has reached a $275 million settlement with India's Adani Enterprises Limited over 32 apparent violations of U.S. sanctions against Iran, according to an official statement released on Monday.

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the agreement to resolve potential civil liability for the Ahmedabad-based conglomerate. The regulatory probe focused on the company’s purchases of liquefied petroleum gas (LPG) shipments between late 2023 and mid-2025.

The transactions involved a Dubai-based trader who claimed the gas originated from Oman and Iraq, but investigators revealed the fuel had actually come from Iran.

The massive settlement marks another major legal development for billionaire Gautam Adani’s business empire in the United States.

Separately, the U.S. Securities and Exchange Commission has moved to settle a civil lawsuit against Adani regarding an alleged $250 million scheme to bribe Indian government officials for energy contracts. While the company has previously denied all wrongdoing, the ongoing legal resolutions come as the group pledges a major $10 billion investment into the American economy.