Adani Enterprises, the flagship company of the Adani Group led by billionaire Gautam Adani, has recently disclosed that it is engaging with the U.S. Office of Foreign Assets Control (OFAC), the agency under the U.S. Department of the Treasury responsible for enforcing economic and trade sanctions.
The development, announced in a regulatory filing on February 10, 2026, stems from a civil investigation into certain past transactions that may have involved Iran or parties subject to U.S. sanctions against the country.
Background of the Allegations
The matter traces back to a Wall Street Journal report published on June 2, 2025. The article alleged that companies linked to the Adani Group imported liquefied petroleum gas (LPG) of Iranian origin into India. It further suggested that some shipments may have used shipping routes and practices commonly associated with efforts to evade U.S. sanctions on Iran.
U.S. sanctions on Iran, administered by OFAC, restrict dealings with Iranian entities, particularly in the energy sector, to limit the country’s access to global financial systems and markets for petroleum products.
Adani Enterprises has consistently denied any wrongdoing related to sanctions evasion. Following the WSJ report, the company proactively and voluntarily initiated discussions with OFAC to address the allegations.
Details from Adani’s Disclosure
In its exchange filing, Adani Enterprises confirmed receiving a Request for Information (RFI) from OFAC on February 4, 2026. The communication indicated that OFAC is conducting a civil investigation into specific transactions processed through U.S. financial institutions.
Market Reaction
News of the OFAC engagement led to a modest dip in Adani Enterprises’ share price, with reports indicating a decline of around 3.5% on February 10, 2026, before partial recovery in trading.
