Regulatory Alerts2026-05-18 | 20260518Settlement 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 announced a $275,000,000 settlement with Adani Enterprises Limited for 32 apparent violations of Iran sanctions. The company purchased liquified petroleum gas from a Dubai trader between November 2023 and June 2025, causing U.S. financial institutions to process approximately $192,104,044 in payments for shipments that actually originated from Iran. The settlement amount reflects the egregious nature of the violations, the lack of voluntary self-disclosure, and the company's subsequent remedial measures and cooperation with the investigation.
Release Date
05/18/2026
Recent Actions Body
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 Settlement Agreement and Enforcement Release .