Adani Enterprises Under US Scrutiny Over Alleged Iranian Oil Imports

Washington D.C.  Indian billionaire Gautam Adani's 'Adani Enterprises' has come under the purview of a US investigation over allegations of importing Iranian petroleum products. The company disclosed on Tuesday that it is cooperating with an investigation following US officials expressing concern over suspected fuel imports from Iran in violation of American sanctions. 

This matter surfaced after The Wall Street Journal published a report in June claiming that the Adani Group might have imported petroleum products of Iranian origin. 

According to the filing submitted by Adani Enterprises to the stock exchange, the 'Office of Foreign Assets Control' (OFAC), the body under the US Treasury Department responsible for enforcing sanctions, requested some significant information last week. 

US officials are particularly monitoring the origin of the Liquefied Petroleum Gas (LPG) imported through Mundra Port, the tankers used for shipment, and details of the fuel. US authorities suspect that these transactions might be directly or indirectly linked to Iran or sanctioned individuals. 

However, the company claims to have stopped all LPG imports as a precautionary measure immediately after the media report was published. The Adani Group has clarified that it had no deliberate involvement in importing fuel of Iranian origin and that the goods were sourced through third parties under regular business procedures. 

According to the company, documents were received showing the original port of those goods as Sohar, Oman. Although OFAC has not yet reached any final conclusion, the company has committed to fully cooperating with the investigation.