Gautam Adani, Indian billionaire and chairman of Adani Group, speaks at the 51st Gem and Jewelery Awards Ceremony held in Jaipur, Rajasthan, India on November 30, 2024.
Vishal Bhatnagar | Nur Photo | Getty Images
The U.S. Treasury Department announced Monday that it has agreed to a $275 million settlement with India’s Adani Enterprises over the company’s potential civil liability for 32 apparent violations of U.S. sanctions against Iran.
The Treasury Department’s Office of Foreign Assets Control said in a statement that Adani Enterprises had purchased shipments of liquefied petroleum gas from a Dubai-based trader purporting to supply gas from Oman and Iraq, but the source was actually Iran.
It was revealed last week that the U.S. Securities and Exchange Commission has separately settled a civil lawsuit against Indian billionaire Gautam Adani over allegations of bribery of Indian government officials, a move that requires court approval.
The Justice Department is also close to dropping related fraud charges against Adani, who promised to invest $10 billion in the U.S. economy, two people familiar with the matter said.
