The Crossbill Team
The Adani Group is facing scrutiny from the United States Department of Justice (DoJ), which is reportedly investigating whether the Indian conglomerate imported petrochemical products originating from Iran, in possible violation of US sanctions.
The investigation, reported by The Wall Street Journal (WSJ), comes amid ongoing settlement talks between Adani’s legal team and US authorities over a separate foreign bribery case.
Citing unnamed sources, the WSJ claimed US prosecutors are examining the movements of several LPG tankers linked to shipments received by Adani Enterprises at the Mundra port.
“US prosecutors are investigating whether Adani’s companies imported Iranian liquefied petroleum gas, or LPG, into India through the company’s Mundra port,” the report said.
One of the vessels, a Panama-flagged tanker named SMS Bros—renamed Neel—allegedly displayed signs of concealment, including manipulation of its Automatic Identification System (AIS), which transmits a ship's location. Satellite imagery reportedly contradicted its AIS data, suggesting the vessel docked in Iran’s Tonbak terminal while claiming to be in Iraq.
Four days later, according to the WSJ, the vessel was contracted by Adani Global PTE to load approximately 11,250 metric tons of LPG from Oman’s Sohar port and deliver it to Mundra.
Indian customs data shows Adani Enterprises imported cargo matching that profile on April 17, valued at just over USD 7 million.
The report also identifies at least three other tankers associated with Mundra port that exhibited similar obfuscation tactics. One of them, operated by the same firm as the Neel, was previously included on a US Senate watchlist for suspected transportation of Iranian oil and gas.
Another claimed to dock at Iraq’s Khor al Zubair port, although satellite data reportedly contradicts that account.
In response, the Adani Group strongly denied the allegations, calling them “baseless and mischievous.”
A company spokesperson said Adani had no knowledge of any investigation by US authorities and firmly rejected any suggestion of engaging in sanctions evasion or importing Iranian-origin LPG.
“Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG,” a company spokesman said in a statement.
The group also questioned the timing of the WSJ report, suggesting it was intended to influence ongoing DoJ proceedings.
The DoJ had earlier unsealed criminal charges in October 2024 accusing Adani chairman Gautam Adani, his nephew Sagar Adani, and several others of orchestrating over USD 250 million in bribes to secure solar energy contracts in India.
A parallel civil case is underway, with the US Securities and Exchange Commission (SEC) alleging violations of federal securities laws.
Adani described its LPG business as “operationally non-material,” comprising only 1.46% of Adani Enterprises’ consolidated revenue of USD 11.7 billion in FY 2024–25. The company stated that all LPG imports are conducted through reputable international suppliers, with thorough compliance checks to ensure vendors are not listed by the US Treasury’s Office of Foreign Assets Control (OFAC).
It further clarified that third-party logistics firms are responsible for shipping, and that Adani neither owns nor operates the tankers cited in the WSJ report.
Regarding the specific shipment in question, the group maintained that all documentation confirmed Oman’s Sohar port as the port of origin. It emphasized that as a “bona fide importer,” it had fulfilled all due diligence and legal responsibilities under both domestic and international regulations.
The investigation, reported by The Wall Street Journal (WSJ), comes amid ongoing settlement talks between Adani’s legal team and US authorities over a separate foreign bribery case.
Citing unnamed sources, the WSJ claimed US prosecutors are examining the movements of several LPG tankers linked to shipments received by Adani Enterprises at the Mundra port.
“US prosecutors are investigating whether Adani’s companies imported Iranian liquefied petroleum gas, or LPG, into India through the company’s Mundra port,” the report said.
One of the vessels, a Panama-flagged tanker named SMS Bros—renamed Neel—allegedly displayed signs of concealment, including manipulation of its Automatic Identification System (AIS), which transmits a ship's location. Satellite imagery reportedly contradicted its AIS data, suggesting the vessel docked in Iran’s Tonbak terminal while claiming to be in Iraq.
Four days later, according to the WSJ, the vessel was contracted by Adani Global PTE to load approximately 11,250 metric tons of LPG from Oman’s Sohar port and deliver it to Mundra.
Indian customs data shows Adani Enterprises imported cargo matching that profile on April 17, valued at just over USD 7 million.
The report also identifies at least three other tankers associated with Mundra port that exhibited similar obfuscation tactics. One of them, operated by the same firm as the Neel, was previously included on a US Senate watchlist for suspected transportation of Iranian oil and gas.
Another claimed to dock at Iraq’s Khor al Zubair port, although satellite data reportedly contradicts that account.
In response, the Adani Group strongly denied the allegations, calling them “baseless and mischievous.”
A company spokesperson said Adani had no knowledge of any investigation by US authorities and firmly rejected any suggestion of engaging in sanctions evasion or importing Iranian-origin LPG.
“Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG,” a company spokesman said in a statement.
The group also questioned the timing of the WSJ report, suggesting it was intended to influence ongoing DoJ proceedings.
The DoJ had earlier unsealed criminal charges in October 2024 accusing Adani chairman Gautam Adani, his nephew Sagar Adani, and several others of orchestrating over USD 250 million in bribes to secure solar energy contracts in India.
A parallel civil case is underway, with the US Securities and Exchange Commission (SEC) alleging violations of federal securities laws.
Adani described its LPG business as “operationally non-material,” comprising only 1.46% of Adani Enterprises’ consolidated revenue of USD 11.7 billion in FY 2024–25. The company stated that all LPG imports are conducted through reputable international suppliers, with thorough compliance checks to ensure vendors are not listed by the US Treasury’s Office of Foreign Assets Control (OFAC).
It further clarified that third-party logistics firms are responsible for shipping, and that Adani neither owns nor operates the tankers cited in the WSJ report.
Regarding the specific shipment in question, the group maintained that all documentation confirmed Oman’s Sohar port as the port of origin. It emphasized that as a “bona fide importer,” it had fulfilled all due diligence and legal responsibilities under both domestic and international regulations.
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