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Adani Enterprises has agreed to pay $275 million to settle allegations by the U.S. Department of the Treasury over violations linked to Iran sanctions, according to an announcement made on Monday.
US authorities said the company had purchased shipments of liquefied petroleum gas through a Dubai-based intermediary that claimed the supplies originated from Oman and Iraq. Investigations later found that the cargo had actually come from Iran, breaching US sanctions regulations.
The settlement is part of a broader effort by US authorities to resolve multiple legal matters involving billionaire industrialist Gautam Adani, the founder and chairman of the Adani Group.
In a separate development, the U.S. Securities and Exchange Commission recently reached a civil settlement with Adani over allegations tied to an alleged bribery scheme involving Indian officials. The agreement, however, remains subject to court approval.
Meanwhile, the U.S. Department of Justice is reportedly considering dropping related criminal fraud charges connected to the case. Sources indicate that a final decision could come soon.
Prosecutors had previously alleged that Adani was involved in plans to pay hundreds of millions of dollars in bribes to secure approvals for a major solar power project in India. They also claimed that significant funds were raised from investors without full disclosure of the alleged misconduct.
The Adani Group has consistently denied all allegations of wrongdoing.
The developments come amid reports that Adani has pledged to invest up to $10 billion in the United States, a move that could play a role in shaping ongoing discussions with authorities.
Narendra Modi’s close ally, Adani remains one of the world’s wealthiest individuals, with a vast business empire spanning energy, infrastructure, and logistics.
