Adani's US legal cleanup just got more expensive. The Indian conglomerate's flagship arm agreed to pay $275 million to settle a probe by the US Treasury's sanctions office, with the case centered on Iranian gas shipments routed through a Dubai middleman.
The US Treasury's Office of Foreign Assets Control (OFAC), which enforces US sanctions, said Adani Enterprises is liable for 32 apparent violations of US sanctions on Iran.
The shipments in question were liquefied petroleum gas, the kind used for cooking and heating, which Adani bought from a Dubai-based trader that claimed the gas was Omani or Iraqi. According to OFAC, it was actually Iranian.
The agency said "red flags" should have alerted Adani that the gas came from Iran, and the case traces back to a Wall Street Journal report from June 2025 that flagged the suspicious shipping routes.
The kicker: OFAC said Adani received a formal request for information on February 4, 2026, which kicked off the months-long process that led to Monday's settlement.
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The Treasury deal is one of three US legal fronts the Adani Group has been working to close out after a tough run of negative US headlines.
The US Securities and Exchange Commission separately settled a civil bribery case against Gautam Adani and his nephew Sagar for $18 million, in which the pair were accused of an alleged scheme to bribe Indian government officials over solar contracts.
The Department of Justice, which had brought criminal fraud charges against the chairman over similar conduct, is reportedly close to dropping that case entirely.
Stitching the settlements together is a separate Adani commitment to invest $10 billion in the US economy, which the conglomerate publicly framed as a long-term bet on the American market.
For investors who've watched Adani Group stocks swing on every US legal headline since late 2024, closing out the three fronts would be a meaningful reset, even with the $275 million Treasury hit and the $18 million SEC payout.
The Treasury settlement still needs to be finalized, and the SEC settlement is subject to court approval, so the cleanup isn't fully done yet.
If all three resolutions close in coming weeks, Adani exits the US legal cycle with the option to focus on growth instead of defense.
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