Settlement resolves 32 apparent violations tied to Iranian liquefied petroleum gas shipments routed through Dubai.
Adani Enterprises Ltd will pay $275 million to settle allegations of violating US sanctions on Iran, the Treasury Department said. The company allegedly purchased Iranian liquefied petroleum gas mislabeled as Omani or Iraqi origin via a Dubai-based trader, resulting in 32 apparent violations.
The settlement follows a separate SEC civil lawsuit against Gautam Adani, the company’s founder, over alleged bribery of Indian officials. That case remains subject to court approval. Adani has pledged $10 billion in US investments, and the Justice Department is reportedly close to dropping related criminal fraud charges.
No immediate market reaction was disclosed, though the settlement removes a regulatory overhang for the conglomerate.