Adani Enterprises will pay $275 million to settle a U.S. Treasury probe into alleged sanctions violations, the Treasury Department announced on Monday (livemint.com).

The Office of Foreign Assets Control (OFAC) said the penalty stems from liquefied petroleum gas purchases Adani made through a Dubai-based trader between 2020 and 2022. Treasury investigators found “red flags” indicating the LPG originated in Iran, which would breach U.S. sanctions (livemint.com). Adani first disclosed receiving an OFAC information request in February 2026 after the Wall Street Journal reported that multiple Adani companies were under review (livemint.com).

The settlement ranks among the largest India-linked OFAC penalties, eclipsing the $135 million fine imposed on Essar Shipping in 2022 for similar Iran-origin cargo issues. For Adani, the payout equals roughly 4% of the group’s FY25 consolidated cash profit, according to Bloomberg-compiled estimates. The case also revives scrutiny of Indian energy traders’ compliance controls at a time when European buyers are stepping up due-diligence checks on Middle East-sourced cargoes to avoid secondary sanctions.

Adani Enterprises said it neither admits nor denies wrongdoing and has already booked a $275 million provision in its March-quarter results (livemint.com). The group added that it has since rolled out “enhanced KYC protocols” for all commodity suppliers and expects OFAC to issue a formal closure letter within 30 days. Investors will watch the 12 August annual general meeting for any update on how the payout affects Adani’s planned $5 billion green hydrogen capital expenditure pipeline.

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