US Investigates Adani Group Over Alleged Sanctions Violations Tied to Iran Trade

By Staff, Agencies

The US Department of Justice has launched a new investigation into Indian conglomerate Adani Group, probing possible violations of American sanctions on Iran, according to a report by The Wall Street Journal.

The investigation centers on alleged imports of Iranian liquefied petroleum gas [LPG] into India via Adani’s Mundra port in Gujarat. The WSJ claims that shipping patterns between the port and the Persian Gulf raised red flags, including behavior typical of vessels seeking to avoid detection or sanctions enforcement.

Adani Group dismissed the allegations as “baseless and mischievous,” stating it has no knowledge of any US investigation and firmly denying involvement in any sanctioned trade with Iran.

The US has maintained strict sanctions on Iran, with President Donald Trump mandating in 2019 that all purchases of Iranian oil or petrochemical products must stop or face secondary sanctions.

This new probe adds to mounting scrutiny faced by Adani over the past two years. In 2023, Hindenburg Research accused the group of stock manipulation and accounting fraud, causing Adani’s companies to lose over $150 billion in market value and igniting political controversy in India.

Additional investigative reports, including from the Organized Crime and Corruption Reporting Project, have further questioned the group’s transparency and ties to the Indian government.

The Adani Group has consistently denied all allegations, while Indian regulators have also pushed back against claims of misconduct.