Adani Enterprises Limited has strongly denied allegations published in a Wall Street Journal (WSJ) article dated June 2, 2025, which suggested that Adani Group entities were involved in trade linked to Iranian-origin liquefied petroleum gas (LPG), potentially in violation of US sanctions.
In an official filing with the stock exchanges on Monday, Adani Enterprises termed the WSJ report as “baseless and mischievous,” adding that the group “categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG.”
The company further clarified that it is “not aware of any investigation by US authorities on this subject.”
According to Adani’s statement, the WSJ article is “based entirely on incorrect assumptions and speculation,” and any claims to the contrary are “slanderous” and intended to damage the reputation of the Adani Group. The group emphasized that it does not handle any cargo from Iran at any of its ports, including shipments originating from Iran or vessels operating under an Iranian flag.
Adani also disclosed that in FY24-25, the LPG segment contributed just USD 171.2 million to the group’s consolidated revenue of over USD 11,727 million — accounting for only 1.46 percent of its total revenue.
The company stated that all its LPG trade is fully compliant with domestic and international laws, including US sanctions regulations. It purchases LPG from “reputed international suppliers” under contracts that specifically require that the product originates from non-sanctioned countries. Additionally, Adani conducts due diligence and Know Your Customer (KYC) checks on its suppliers and uses tools such as S&P Global’s Market Intelligence Network (MINT) to verify shipping compliance.
Regarding the shipment mentioned in the WSJ report, Adani clarified that it was a routine commercial transaction conducted via third-party logistics partners, with Sohar, Oman, identified as the port of origin.
The company reiterated that it does not own, operate, or track vessels mentioned in the report, including those referred to as “SMS Bros” or “Neel,” and that it has fulfilled all legal duties required of an importer.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
