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Adani Group Under U.S. Investigation for Alleged Sanctions Evasion
U.S. authorities are looking into whether businesses belonging to Indian billionaire Gautam Adani imported Iranian liquefied petroleum gas (LPG) into India via Mundra port, according to a report from the Wall Street Journal (WSJ).
The investigation revealed that certain tankers traveling between Mundra, located in Gujarat, India, and the Persian Gulf exhibited behaviors typically associated with vessels attempting to skirt sanctions, as stated by industry experts.
The U.S. Department of Justice is scrutinizing the operations of various LPG tankers that have transported cargo for Adani Enterprises, as reported by WSJ, which cited anonymous sources familiar with the situation.
A spokesperson for Adani Group strongly denied any intentional involvement in sanction violations or trade linked to Iranian LPG. They added, "We have no information suggesting that U.S. authorities are conducting any investigation on this matter."
Neither Gautam Adani, the Justice Department, nor the U.S. Attorney’s Office in Brooklyn responded promptly to requests for comments from Reuters.
In May, former President Donald Trump emphasized that all imports of Iranian oil or petrochemical products should cease, warning that any entities that purchase from Iran would face immediate secondary sanctions.
This investigation into Adani’s actions follows months after U.S. prosecutors indicted him and his nephew, Sagar Adani, alleging they engaged in bribery to secure power supply contracts and misled U.S. investors during fundraising efforts in the States.
The Adani Group has labeled these allegations as "baseless" and expressed its intent to pursue "all available legal options."
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