US prosecutors are investigating whether Adani Group companies imported Iranian liquefied petroleum gas (LPG) into the country through their Mundra port in Gujarat, the Wall Street Journal reported on Monday.
A WSJ investigation found tankers travelling between Mundra and the Persian Gulf exhibited traits experts say are common for ships evading sanctions, the report said.
US President Donald Trump said in May that all purchases of Iranian oil or petrochemical products must stop and any country or person buying any from the country would be immediately subject to secondary sanctions. Any investigation into Adani would come months after US authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled US investors during fundraising in the US.
When contacted, a Adani Group spokesperson said, “The WSJ story appears to be based entirely on incorrect assumptions and speculation. Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG. Further, we are not aware of any investigation by US authorities on this subject.”
Any suggestion that Adani Group entities are knowingly in contravention of US sanctions on Iran is strongly denied. Any assertion to the contrary would not only be slanderous but also deemed to be an intentional act to injure the reputation and interests of the Adani Group, the spokesperson said.
By policy, the Adani Group does not handle any cargo from Iran at any of its ports. This includes any shipments originating from Iran or any vessels operating under the Iranian flag, the spokesperson said, adding that the Adani Group does not manage or facilitate any ships whose owners are Iranian.
In Adani Enterprises’ consolidated revenue of over $11,727 million in FY25, the revenue from the LPG segment amounted to just $ 171.2 million — barely 1.46% of the total. Even while LPG constitutes a very small and operationally non-material component of our overall revenue, all LPG trade conducted by Adani entities is fully compliant with applicable domestic and international laws, including US sanctions regulations, the spokesperson said.
“Adani purchases LPG on contracts from reputed international suppliers. As an importer of LPG, the appropriate due diligence and KYC of the suppliers is undertaken to ensure that the entities/persons are not on the OFAC sanctions list,” the spokesperson said.
The logistics of LPG trade are managed by well-established third-party international suppliers and logistics firms, which manage shipping in accordance with global compliance standards. The supplies are under valid contracts with the supplier having specific clauses that the product should be from non sanctioned countries, he said.