Adani said the latest case has no financial implications, noting that LPG accounted for only 1.46 percent of the company’s revenue and 0.5 percent of the Group’s total revenue. Image: Bloomberg
By Weilun Coming soon
Adani Enterprises Ltd. said the US sought information from the company after a media report claimed it was importing Iranian oil products into India, raising possible sanctions concerns.
The company initiated discussions with the Treasury Department’s Office of Foreign Assets Control following the Wall Street Journal article last June, according to a regulatory filing Tuesday. Adani received the request for information on February 4 and stressed that it is fully cooperating with US authorities.
Shares of Adani Enterprises, the flagship within the Adani Group, fell as much as 3.5 percent on Tuesday.
WSJ had reported that companies controlled by billionaire Gautam Adani were being investigated by US prosecutors over the import of Iranian liquefied petroleum gas through the Group’s port in Mundra. Iran’s oil trade has long been subject to Washington sanctions.
The investigation adds to ongoing investigations into the conglomerate, including a U.S. bribery investigation in which the group’s chairman has been indicted. It follows previous allegations of market manipulation by short seller Hindenburg Research in 2023, which had already dented investor confidence. Adani has denied any wrongdoing.
Adani said the latest case has no financial implications, noting that LPG accounted for only 1.46 percent of the company’s revenue and 0.5 percent of the Group’s total revenue in the fiscal year ended March 2025.
Out of an “abundance of caution”, the company said it halted all LPG imports last June.
First publication: February 10, 2026 | 1:10 PM IS
#investigating #alleged #Iranian #oil #imports #Adani #Enterprises