Adani Enterprises Limited has entered into a settlement agreement with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to resolve investigations into past transactions. The company has agreed to a settlement payment of $275,000,000. This agreement follows an investigation regarding shipments of liquified petroleum gas (LPG) purchased by the company between November 2023 and June 2025. The settlement was reached without the company admitting to the allegations made by the authority.
Settlement Details
On May 14, 2026, Adani Enterprises Limited finalized a settlement agreement with OFAC, which was formally announced on May 18, 2026. Under the terms of the agreement, the company will pay $275,000,000. This figure was successfully mitigated from a maximum statutory penalty of $384,208,088, reflecting the company’s cooperation throughout the investigative process and its implementation of new, enhanced compliance commitments.
Background of the Investigation
The investigation stemmed from allegations surrounding 32 U.S. dollar-denominated payments, totaling approximately $192,104,044, made between November 2023 and June 2025. These payments were related to LPG shipments procured from a Dubai-based trader that were purported to originate from Oman and Iraq. However, investigators determined that the shipments actually originated from Iran. While the company maintained that its LPG business represented less than 1.5% of its consolidated revenue for 2025, it has now committed to strengthening its oversight protocols following these findings.
Source: BSE
