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US Treasury, India's Adani Enterprises settle alleged Iran sanctions violations
The US SEC settled a civil lawsuit against Indian billionaire Gautam Adani over an alleged bribery scheme involving Indian officials, pending court approval
- PUBLISHED: Mon 18 May 2026, 7:56 PM
The US Department of Treasury on Monday said it had agreed to a $275 million settlement with India's Adani Enterprises Ltd over the company's potential civil liability for 32 apparent violations of US sanctions on Iran.
Adani Enterprises had bought shipments of liquefied petroleum gas from a Gulf-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran, the Treasury's Office of Foreign Assets Control said in a statement.
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The US Securities and Exchange Commission separately settled a civil lawsuit against Indian billionaire Gautam Adani over an alleged scheme to bribe Indian government officials, court records showed last week, although the move is subject to court approval.
The Justice Department is also close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the US economy, according to two sources familiar with the matter.