The United States Department of Justice (DOJ) has launched a fresh investigation into Indian billionaire Gautam Adani and his business conglomerate, the Adani Group, over suspected violations of U.S. sanctions on Iran. The inquiry centers on the alleged import of Iranian liquefied petroleum gas (LPG) into India via the Adani-operated Mundra Port in Gujarat, reports said on Monday.
According to sources familiar with the matter, the investigation is specifically tracking the movements of certain tankers traveling between the Persian Gulf and Mundra Port. These vessels reportedly demonstrate behavior patterns commonly associated with sanctions evasion tactics, such as turning off transponders or engaging in ship-to-ship transfers, raising red flags for U.S. authorities.
The Adani Group has strongly denied any involvement in the alleged trade and dismissed the reports as unfounded and malicious.
“Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG. Further, we are not aware of any investigation by U.S. authorities on this subject,” the company said in an official statement.
This new probe comes amid escalating U.S. efforts to clamp down on nations and companies that continue to trade with Iran, especially in the oil and petrochemical sectors. Just last month, U.S. President Donald Trump reiterated a strict policy stance, announcing that all purchases of Iranian oil and petrochemical products must cease immediately. He warned that any government, corporation, or individual found involved in such transactions would be subject to secondary sanctions.
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The Adani Group, one of India’s largest and most influential business conglomerates, has already been under significant scrutiny over the past two years. The latest investigation adds to the pressure the group is facing.
The scrutiny began in early 2023 when U.S.-based investment firm Hindenburg Research published a damning report accusing the Adani Group of engaging in stock manipulation and accounting fraud. The report triggered a massive selloff in Adani-linked stocks, wiping out nearly $150 billion in market value and sparking a political storm in India.
Later that year, the Organised Crime and Corruption Reporting Project (OCCRP)—an international investigative journalism platform known for exposing global financial scandals like the Panama Papers and Pandora Papers—also released findings echoing similar allegations against the Adani Group.
While the company has consistently denied wrongdoing, the cumulative impact of these investigations has placed the Adani empire under an intense global spotlight. The outcome of the DOJ’s latest probe could further influence both the group's market position and its international credibility.
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