Adani Enterprises Ltd. said the United States authorities have sought information from the company following a media report alleging imports of Iranian oil products into India, raising potential sanctions-related concerns. In a regulatory filing on Tuesday, Adani Enterprises said it initiated discussions with the US Treasury Department’s Office of Foreign Assets Control (OFAC) after a Wall Street Journal report published last June. The company received a formal request for information on February 4 and said it is fully cooperating with US authorities.
Shares of Adani Enterprises, the flagship firm of the Adani Group, fell as much as 3.5 per cent during Tuesday’s trading session amid investor caution.
The Wall Street Journal had earlier reported that companies controlled by billionaire Gautam Adani were being examined by US prosecutors over the alleged import of Iranian liquefied petroleum gas (LPG) through the Group’s Mundra port in Gujarat. Iran’s oil and gas trade has been under long-standing US sanctions, making any alleged transactions a matter of regulatory scrutiny.
US Seeks Information from Adani on Alleged Iranian Oil Imports
