Adani Group Faces Fresh U.S. Probe Over Alleged Iran-Origin LPG Trade: Report

Indian billionaire Gautam Adani’s conglomerate is reportedly under a new investigation by the U.S. Department of Justice (DOJ) for potential violations of U.S. sanctions on Iran, according to a report published by The Wall Street Journal on Monday.

The investigation is said to focus on whether any entities within the Adani Group engaged in transactions involving liquefied petroleum gas (LPG) of Iranian origin, which would breach U.S. sanctions laws.

The WSJ report noted that several tankers operating between Mundra Port in Gujarat and the Persian Gulf displayed characteristics typically associated with vessels attempting to circumvent sanctions, according to experts.

In response, an Adani Group spokesperson strongly denied any wrongdoing, stating:

"Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG. Further, we are not aware of any investigation by U.S. authorities on this subject."

This development follows past scrutiny of the conglomerate. Earlier this year, U.S. authorities indicted Gautam Adani and his nephew, Sagar Adani, alleging they engaged in bribery to secure power contracts and misled American investors during fundraising activities. The Adani Group has dismissed those allegations as “baseless” and pledged to pursue all available legal remedies.

The scrutiny comes amid strict U.S. sanctions, reiterated during former President Donald Trump’s tenure, which prohibit the purchase of Iranian oil or petrochemical products. Violators risk facing severe secondary sanctions.

Despite the controversies, the Adani Group continues to expand, recently announcing plans to invest ₹1 lakh crore in India’s northeast region over the next decade.