Adani Enterprises, in its BSE release, has clarified that it has ceased all LPG imports with effect from June 2, 2025. It also noted that liquefied petroleum gas (LPG) formed a very small and operationally non-material part of its business. LPG accounted for about 1.46% of Adani Enterprises’ revenue and 0.5% of the Adani Group’s overall revenue in FY25.
The Adani Group stocks are under pressure after a sharp cut in early trade. This is after Adani Enterprises received a Request for Information (RFI) from the United States Office of Foreign Assets Control (OFAC) as part of a civil investigation linked to allegations mentioned in a Wall Street Journal (WSJ) article published on June 2, 2025.
According to the report, US prosecutors were investigating whether Adani’s companies imported Iranian liquefied petroleum gas, or LPG, into India through the company’s Mundra port.
Adani Group voluntarily in talks with US OFAC
“Out of abundant caution and as part of its cooperation efforts, the Company ceased all LPG imports with effect from June 2, 2025,” Adani Group clarified in its statement.
The Adani Group stated that it is voluntarily in talks with the US Office of Foreign Assets and is fully cooperating with the ongoing process. The company said the communication from OFAC does not point to any aberrations, non-compliances, penalties, restrictions or sanctions at this stage.
The OFAC indicated that it is conducting a civil investigation into certain transactions processed through US financial institutions. These transactions may have involved, directly or indirectly, Iran or entities subject to US sanctions against Iran.
What happened so far
On June 2, Wall Street Journal reported that US prosecutors were examining whether LPG tankers delivered Iranian fuel to the Adani-run Mundra port by using deceptive shipping practices — such as possible misreported positions and origins.
The report also detailed an analysis of tanker movements between the Persian Gulf and Mundra.
The United States had imposed sanctions on exports of Iranian fossil fuels as part of its effort to curb Tehran’s nuclear programme.
Adani group, in its BSE release, had called the report ‘baseless and mischievious’.
Adani Enterprises share price
The share price of Adani Enterprises is down over 1% in the intra-day session. Over the past one month the stock has delivered a return of 2.39%. Overall, the Adani Group stocks are under pressure as well.