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WSJ: Indian tycoon Adani under US scrutiny for suspected Iran oil links

02 June 2025 17:42

Indian billionaire Gautam Adani is facing renewed scrutiny from US authorities over allegations his companies may have violated sanctions by importing petrochemical products from Iran.

The investigation by the US Department of Justice centres on shipments of liquefied petroleum gas (LPG) to India via tankers allegedly linked to Iran, despite official documentation citing other origins, Caliber.Az reports, citing The Wall Street Journal.

Thus, US prosecutors are examining whether Adani’s firms imported Iranian LPG through the group’s Mundra port, with a focus on vessels that may have used deceptive tactics to obscure their movements. These included disabling tracking systems and providing misleading route data — behaviours often associated with sanctions evasion.

A key case involves the Panamanian-flagged vessel SMS Bros, which appeared to broadcast a false location in Iraq in April 2024. Satellite imagery instead showed the ship at an Iranian port. Although shipping records later indicated the cargo was loaded in Oman, the vessel did not dock at the claimed location, and documents show the cargo was delivered to Adani Enterprises with a declared value of over $7 million.

The Adani Group denies any wrongdoing. A company spokesperson said the LPG shipment in question was arranged through a third-party logistics firm and claimed the documentation identified Oman as the port of origin. The group added that it checks contracted vessels for red flags but does not own or control them.

The US Attorney’s Office in Brooklyn is reportedly leading the probe, which follows earlier charges filed in 2024 against Adani in a separate case involving alleged $250 million in bribes to Indian officials. That case, brought under conspiracy and securities fraud statutes, prompted the billionaire to seek support from top US legal firms and lobby Congress to have the charges dropped.

Despite the Trump administration easing enforcement of foreign bribery laws, it has maintained a hard line on Iranian oil and petrochemical trade. Trump warned last month that any country or individual trading with Iran would face secondary sanctions and be barred from doing business with the US.

Adani, a key ally of Indian Prime Minister Narendra Modi, controls a conglomerate central to India’s infrastructure development. His companies are valued at around $150 billion.

While the Adani Group insists it has complied with all import regulations, the US investigation highlights growing concerns over the murky nature of global LPG shipments and the use of maritime obfuscation techniques. Multiple tankers involved in Adani-related shipments have previously been linked to Iranian trade or featured on sanctions watchlists.

By Aghakazim Guliyev

Caliber.Az
Views: 408

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