Ahmedabad– The Adani Group on Monday strongly refuted a report by The Wall Street Journal alleging links between its entities and Iranian liquefied petroleum gas (LPG), calling the claims “baseless and mischievous.”
In a filing to the stock exchanges, Adani Enterprises stated it has had no involvement in any sanctions evasion or trade involving Iranian-origin LPG and emphasized it is unaware of any investigation by U.S. authorities on the matter.
“The WSJ’s story appears to rely entirely on incorrect assumptions and speculation,” the company said. “Any claim that Adani Group entities knowingly violated U.S. sanctions on Iran is not only false but a deliberate attempt to damage our reputation and interests.”
The company also clarified that it does not manage or operate any vessels owned by Iranian entities and follows strict compliance policies across all its ports.
Addressing the shipment mentioned in the WSJ report, Adani said it was part of a routine commercial transaction managed by third-party logistics providers, with documentation identifying Sohar, Oman as the port of origin.
Adani noted that LPG contributes only about 1.46 percent of its total consolidated revenue and all transactions are fully compliant with domestic and international regulations, including U.S. sanctions.
“As an importer of LPG, we conduct appropriate due diligence and KYC checks to ensure suppliers are not on the OFAC sanctions list,” the company said, adding that shipping logistics are handled by reputable global firms operating under strict compliance standards.
All LPG supplies are governed by valid contracts that include provisions requiring the product to originate from non-sanctioned countries, the company concluded. (Source: IANS)
