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Informist, Monday, Jun. 2, 2025

NEW DELHI – The Adani group has "categorically" denied any deliberate engagement in evasion of US sanctions or trade involving Iranian-origin liquefied petroleum gas in response to a news report in The Wall Street Journal Monday. "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 Enterprises Ltd. said in a statement issued to the stock exchanges Monday.

The news report said the US Justice Department is investigating whether the Adani group companies violated US sanctions on Iran after Chairman Gautam Adani was charged in a bribery case last year. The news report alleged that Adani is facing a new front with US prosecutors in the form of a probe into whether his companies importing Iranian LPG through their Mundra port.

"A Wall Street Journal investigation into tankers that regularly traveled between Mundra and the Persian Gulf found their behavior often exhibited traits seen by ships seeking to evade sanctions," the news report stated.

Adani Enterprises said in Monday's exchange filing that as per its policy, the Adani group does not handle any cargo from Iran "at any of our ports," including 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," it added.

The Wall Street Journal pointed to a journey undertaken in April last year by a ship that carried an LPG cargo for Adani, the Panamanian-flagged SMS Bros, and said it demonstrated some of the patterns of manipulation of ships' automatic identification system. According to the news report, this ship was reported to be at its berth in Iraq, but satellite images allegedly showed a matching ship be docked around 315 miles to the southeast at an LPG terminal in Tonbuk, Iran.

Adani Enterprises said in its statement the shipment referred to in the news report was handled through a routine commercial transaction via third-party logistics partners and was supported by documentation identifying Sohar, Oman, as the port of origin. "...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," the company said.

On Monday, shares of Adani Enterprises ended flat at INR 2,518.80 on the National Stock Exchange of India.  End

Reported by Rajesh Gajra

Edited by Tanima Banerjee

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