Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and Adani Enterprises Limited

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $275,000,000 settlement with Adani Enterprises Limited (AEL), an Ahmedabad, India-based company. AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC's Iran sanctions. From November 2023 to June 2025, AEL purchased shipments of liquified petroleum gas (LPG) from a Dubai-based trader purporting to supply Omani and Iraqi gas. Red flags should have put AEL on notice that the LPG actually originated from Iran. During this time period, AEL caused U.S. financial institutions to process 32 U.S. dollar denominated payments totaling approximately $192,104,044 for the shipments. The settlement amount reflects OFAC's determination that AEL's apparent violations were egregious and not voluntarily self-disclosed and further reflects the AEL's remedial measures following discovery of the conduct and the cooperation AEL provided for OFAC's investigation. For more information, please visit the following Enforcement Release.