US Treasury, India’s Adani Enterprises settle alleged Iran sanctions violations

The U.S. Treasury’s Office of Foreign Assets Control has settled with Adani Enterprises for $275 million over 32 apparent violations of U.S. sanctions on Iran, according to Reuters and follow-on reporting.

The reports say the alleged violations involved liquefied petroleum gas shipments bought from a Dubai-based trader that purported to supply Omani and Iraqi gas but that actually originated from Iran.

Adani Enterprises had previously disclosed in February that it had received a request for information from OFAC and that the agency was conducting a civil investigation into transactions that may have involved Iran or sanctioned persons.

Follow-on coverage said Adani described the matter as an OFAC settlement announced in an enforcement release dated May 18, 2026.

The settlement is a notable escalation for one of India’s biggest conglomerates, given the scale of the payment and the sensitivity of U.S. sanctions enforcement involving Iran. It also closes a probe that had been public for months after the company’s earlier disclosure.

No additional settlement terms were confirmed in the reporting reviewed, including whether the agreement includes admissions or extra compliance conditions.