India’s Adani To Pay $275 Million to US Over Iran Sanctions Violations

One of Indian billionaire industrialist Gautam Adani’s companies will pay the US Treasury $275 million to settle a probe into whether it violated US sanctions against Iran, the Treasury said in a statement on Monday.

The US Treasury’s Office of Foreign Assets Control (OFAC) said the agreement had been reached with Adani Enterprises Limited (AEL), part of the billionaire’s sprawling conglomerate of companies. “AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC’s Iran sanctions,” the Treasury said, pointing to AEL purchases of liquefied petroleum gas (LPG) shipments between November 2023 and June 2025.

Monday’s announcement came days after Adani agreed to pay a separate $18 million settlement in a US civil court case linked to corruption, without admitting guilt, according to another of his companies. In that case, Adani was accused of having participated in an estimated $250 million scheme to bribe Indian officials for lucrative solar energy supply contracts.

In February, Adani Enterprises said it was cooperating with the US probe into the potential sanctions violations that resulted in Monday’s settlement announcement. The Adani Group is one of India’s largest business empires, operating businesses ranging from ports and power plants to cement factories and media houses.

The US Treasury Department said Adani Enterprises had bought shipments of liquefied petroleum gas from a Dubai-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran. Adani is the company’s founder and chairman.

The US Securities and Exchange Commission separately settled a civil lawsuit against Adani over an alleged scheme to bribe Indian government officials, court records showed last week, although the move is subject to court approval.

The Justice Department is also close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the US economy, according to two sources familiar with the matter. That dismissal could come as soon as Monday morning, one source said.

US prosecutors had charged Adani for allegedly agreeing to pay $265 million in bribes to Indian government officials so his company could win approval to develop India’s largest solar power plant.

Adani and his alleged co-conspirators raised more than $3 billion in loans and bonds by hiding their corruption from lenders and investors, prosecutors said. The Adani Group, a conglomerate that includes Adani Enterprises, has consistently denied any wrongdoing. Adani, a close ally of Indian Prime Minister Narendra Modi, is one of the world’s richest people, with an estimated worth of $82 billion, according to Forbes magazine.