US investigating Adani Group for suspected LPG imports from Iran: Report
Prosecutors in the United States are investigating whether Adani Group entities had imported Iranian liquefied petroleum gas into India, The Wall Street Journal reported on Monday.
The prosecutors were reviewing the activities of several LPG tanker ships used to transport cargoes to Adani Enterprises, the newspaper quoted unidentified officials as saying.
The US has imposed sanctions on Iran for its nuclear programme and alleged support for militant groups such as Hamas.
The conglomerate rejected the allegations on Monday.
'Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG,' a company spokesperson said. 'Further, we are not aware of any investigation by US authorities on this subject.'
An investigation by The Wall Street Journal into a group of LPG tankers travelling between the conglomerate's Mundra port in Gujarat and the Persian Gulf since early 2024 found that they showed signs, which ship trackers say are usually proof of vessels trying to hide their activities, the newspaper reported on Monday.
In response to the report by The Wall Street Journal, Adani Enterprises said in a stock exchange filing on Monday that the 'story appears to be based entirely on incorrect assumptions and speculation'.
'Any suggestion that Adani Group entities are knowingly in contravention of US sanctions on Iran is strongly denied,' the company said. 'Any assertion to the contrary would not only be slanderous but also deemed to be an intentional act to injure the reputation and interests of the Adani Group.
The company said that as a matter of policy, the Adani Group does not handle cargo from Iran at any of its ports.
'This includes any shipments originating from Iran or any vessels operating under the Iranian flag,' it added. '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.'
This comes at a time when US President Donald Trump has targeted entities buying Iranian energy products. Trump has threatened to introduce secondary sanctions on such entities.
The Trump administration is making fresh efforts to build pressure on Iran to cut its oil exports and prevent it from getting a nuclear weapon. Tehran has said that its nuclear programme is for civil purposes.
In April, the US had sanctioned an Indian citizen based in the United Arab Emirates and two India-based entities for allegedly operating vessels as part of Iran's 'shadow fleet' and shipping Iranian oil.
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