Adani Enterprises in Talks With US Sanctions Authority Over Iranian LPG Imports

Adani Group’s flagship company, Adani Enterprises, is in talks with the U.S. Office of Foreign Assets Control (OFAC) over the alleged purchase of liquefied petroleum gas (LPG) from Iran. The company, led by Gautam Adani, informed exchanges about the discussions in a filing on Tuesday.

The company referred to a sources-based report by The Wall Street Journal dated June 2 last year, which alleged that Adani Group companies imported Iranian LPG into India via Mundra port. The report claimed that tankers operating between Gujarat’s Mundra port and the Persian Gulf exhibited behaviour commonly associated with sanctions evasion, and that the US Justice Department was examining the activities of several LPG tankers suspected of delivering shipments to Adani Enterprises.

In May, US President Donald Trump said any party buying Iranian oil or petrochemical products would be immediately subject to secondary sanctions. At the time, the company had described the allegations in the report as baseless and mischievous.

“Further to our response dated June 2, 2025, we wish to inform you that the company has proactively and voluntarily initiated discussions with the U.S. Office of Foreign Assets Control (OFAC) concerning the allegations raised in the WSJ article of June 2, 2025,” Adani Enterprises said in the exchange filing.

It added that, as part of its voluntary engagement with OFAC, the company received a request for information on February 4, 2026, through its counsel. OFAC, a division of the US Department of the Treasury, administers and enforces economic and trade sanctions based on US foreign policy and national security goals.

The company said OFAC has indicated it is conducting a civil investigation into certain transactions processed through US financial institutions between June 2023 and the present that may have involved, directly or indirectly, Iran or entities subject to US sanctions.

Adani Enterprises said the communication contains no findings of wrongdoing and is not expected to have any financial impact. It noted that LPG accounted for a small and non-material share of its revenue and that all LPG imports were halted from June 2, 2025, as a precautionary measure.

Following the exchange filing, shares of Adani Enterprises fell to a low of 2,173.75 before recovering slightly to 2,227.55 at 3.19 pm on the BSE. The stock was down 1.02% from the previous close.