'Baseless and mischievous': Adani Group denies being under investigation by US authorities over links with Iranian LPG

The Adani Group on Monday denied media report of being investigated by United States authorities over alleged links with Iranian LPG.

"The Wall Street Journal’s story of 2nd June 2025, by Ben Foldy and Dave Michaels, alleging links between Adani entities and Iranian LPG, is baseless and mischievous. Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG. Further, we are not aware of any investigation by US authorities on this subject," said the company through stock exchange filing.

The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani's Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions. It said the U.S. Justice Department was reviewing the activities of several LPG tankers used to ship cargoes to Adani Enterprises, the group's flagship entity, citing people familiar with the matter.

Read more: Gautam Adani under new scrutiny from US prosecutors, WSJ reports

"By policy, the Adani Group does not handle any cargo from Iran at any of our ports. This includes any shipments originating from Iran or any vessels operating under the Iranian flag. Additionally, the Adani Group does not manage or facilitate any ships whose owners are Iranian. This policy is strictly adhered to across all our ports," added the group.

"As an importer of LPG, the appropriate due diligence and KYC of the suppliers is undertaken to ensure that the entities/persons are not on the OFAC sanctions list. The logistics of LPG trade are managed by well established third-party international suppliers and logistics firms, which manage shipping in accordance with global compliance standards," added the company.

"We again state that we do not own, operate or track vessels (including the alleged SMS Bros/Neel) and cannot comment on the current or past activity of vessels we have not contracted and do not control. Whatever the duties and responsibilities of a bona fide importer are, we have fulfilled those," said Adani Group.

US President Donald Trump said in May that any party buying Iranian oil or petrochemical products would immediately be subject to secondary sanctions.

Last November, U.S. authorities indicted Adani and his nephew, Sagar Adani, on suspicion of paying bribes to secure power supply contracts and misleading U.S. investors during fund-raising in the United States.

Adani Group has denied the accusations and vowed to fight them.