Adani Enterprises Limited has entered into a settlement agreement with the US Treasury Department’s Office of Foreign Assets Control (OFAC), agreeing to pay $275 million to resolve allegations related to violations of Iran-related sanctions, the company informed stock exchanges on Monday.
“Adani Enterprises Limited has entered into a settlement agreement dated May 14, 2026, with the U.S. Department of the Treasury’s Office of Foreign Assets Control,” said Adani Enterprises Limited in its exchange filing.
“The settlement agreement was announced by way of an Enforcement Release dated May 18, 2026, issued by OFAC,” the Company added.
The settlement agreement was executed on May 14, 2026, and publicly announced by OFAC on May 18, 2026, under Regulation 30 of the SEBI Listing Regulations.
According to the disclosure, the settlement amount has been mitigated from a maximum statutory penalty of $384.2 million, factoring in the company’s cooperation with US authorities, the limited scale of the liquefied petroleum gas (LPG) business involved, and remedial compliance measures undertaken by Adani Enterprises.
Between November 2023 and June 2025, the company purchased LPG shipments from a Dubai-based trader and its affiliates, which were represented as originating from Oman and Iraq. During this period, Adani Enterprises caused US financial institutions to process 32 dollar-denominated transactions amounting to approximately $192.1 million, OFAC said.
However, OFAC determined that multiple red flags should have alerted the company that the LPG may have originated from Iran, a jurisdiction subject to US sanctions. The regulator concluded that the company did not voluntarily self-disclose the apparent violations and classified the matter as an “egregious case” under its enforcement framework.
The company stated that the settlement was reached without admitting or denying the allegations made by OFAC. It also highlighted that its LPG business accounted for less than 1.5% of consolidated revenue in FY25, which was among the mitigating factors considered by the US authority.
Adani Enterprises added that it had proactively engaged with OFAC following a Wall Street Journal report in June 2025, cooperated with investigations, and implemented additional compliance commitments as part of the settlement.
