US inquiring over alleged Iranian oil imports, says Adani Enterprises | Company News
Adani stated that the latest issue has no financial impact, stating that LPG accounts for only 1.46 percent of the company’s revenue and 0.5 percent of the Group’s total revenue. Image: Bloomberg
Written by: Weilun Soon
Adani Enterprises Ltd. said the United States has sought information from the company following a media report alleging that it was importing Iranian oil products to India, raising potential sanctions concerns.
The company began discussions with the Treasury Department’s Office of Foreign Assets Control following the Wall Street Journal’s article last June, according to a regulatory filing Tuesday. Adani, which received the request for information on February 4, emphasized that it was fully cooperating with US officials.
Shares of Adani Group’s flagship company, Adani Enterprises, fell as much as 3.5 percent on Tuesday.
WSJ had reported that companies controlled by billionaire Gautam Adani were being investigated by US prosecutors over the import of liquefied petroleum gas from Iran through the Group’s port in Mundra. Iran’s oil trade has long been subject to Washington’s sanctions.
The investigation adds to ongoing investigations into the conglomerate, including a US bribery probe in which the group chairman has been charged. This follows allegations of market manipulation by short-seller Hindenburg Research, which has already weighed on investor confidence in 2023. Adani has denied any wrongdoing.
Adani stated that the latest issue had no financial impact, noting that LPG accounted for only 1.46 percent of the company’s revenue and 0.5 percent of the Group’s total revenue in the financial year ending March 2025.
The company announced that it had stopped all LPG imports since last June due to “an abundance of caution”.
First Publication Date: February 10, 2026 | 13:10 IST
