India’s Adani denies sanctions evasion or Iran LPG trade after WSJ reports US probe

Published
0
Indian billionaire Gautam Adani attends the 51st Gems and Jewellery Awards in Jaipur, India in this file photo from November 2024. — Reuters
Indian billionaire Gautam Adani attends the 51st Gems and Jewellery Awards in Jaipur, India in this file photo from November 2024. — Reuters

India’s Adani Group on Monday denied “any deliberate engagement” in sanctions evasion or trade involving Iranian-origin liquefied petroleum gas, after The Wall Street Journal reported that US prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.

An Adani spokesperson called the report “baseless and mischievous” in a statement, adding: “We are not aware of any investigation by US authorities on this subject.”

The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani’s Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.

It said the US Justice Department was reviewing the activities of several LPG tankers used to ship cargoes to Adani Enterprises, the group’s flagship entity, citing people familiar with the matter.

Reuters could not immediately confirm the report and the US Department of Justice and the US Attorney’s Office in Brooklyn did not immediately respond to requests for comment.

Adani said it did not handle any cargo from Iran at its ports, as a matter of policy. It said all its LPG trade, which accounts for 1.46 per cent of Adani Enterprises’ total revenue, was fully compliant with domestic and international laws, including US sanctions regulations.

A shipment referred to by the WSJ was handled as a “routine commercial transaction” via third-party logistics partners and supported by documentation identifying Sohar, Oman, as the port of origin, Adani said.

US President Donald Trump said in May that any party buying Iranian oil or petrochemical products would immediately be subject to secondary sanctions.

Last November, US authorities indicted Adani and his nephew, Sagar Adani, on suspicion of paying bribes to secure power supply contracts and misleading US investors during fund-raising in the United States.

Adani Group has denied the accusations and vowed to fight them.

Opinion

Editorial

Climate challenges
Updated 13 Nov, 2026

Climate challenges

Pakistan cannot afford to confront its climate crises one disaster, one season and one international summit at a time.
Under fire
Updated 13 Nov, 2026

Under fire

KP police are increasingly vulnerable as they play a frontline role in ongoing operations against terrorists.
Used car imports
13 Nov, 2026

Used car imports

THE government’s effort to restrict used car imports appears to be faltering. So suggest the numbers. Despite...
Iran status quo
Updated 12 Nov, 2026

Iran status quo

The US cannot hold the world hostage in order to find an honourable exit from a disastrous war for which it has only itself — and Israel — to blame.
Unspent funds
12 Nov, 2026

Unspent funds

THE slow pace of development spending shows how public investment continues to bear the brunt of efforts to create a...
Homes and hope
12 Nov, 2026

Homes and hope

THE completion of more than one million homes for families displaced by the 2022 floods is a moment worth...