US Announces USD 275 Million Sanctions 'Settlement' With Adani Enterprises |
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New Delhi: The US Treasury Department on Monday announced a USD 275 million settlement with Adani Enterprises Ltd (AEL) over alleged “apparent violations” of American sanctions on Iran. The case relates to imports of Liquefied Petroleum Gas (LPG) sourced through a Dubai-based supplier between November 2023 and June 2025.
The Dubai-based supplier, who is not identified in the release, is said to have “purported to supply Omani and Iraqi gas” to AEL. However, according to a press release related to the settlement order issued by the US Treasury Department’s Office of Foreign Assets Control (OFAC), AEL failed to notice “red flags” in these transactions.
As a result, says the release, AEL caused US financial institutions to process 32 dollar-denominated payments worth about USD 192 million. The cargoes were imported by AEL into India through Mundra port in Gujarat between November 2023 and June 2025.
According to the release, these payments were related to shipments of Iranian origin that violated provisions of the US’ Iranian Transactions and Sanctions Regulations (ITSR) limiting Iran’s energy trade.
“From November 2023 to June........