India’s Adani Group yesterday denied “any deliberate engagement” in sanctions evasion or trade involving Iranian-origin liquefied petroleum gas, after the Wall Street Journal reported that US prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.
An Adani spokesperson called the report “baseless and mischievous” in a statement, adding: “We are not aware of any investigation by US authorities on this subject.”
The WSJ said it had found tankers travelling between the Gulf and billionaire Gautam Adani’s Mundra port in western India exhibiting traits that experts say are common for ships evading sanctions.
It said the US Justice Department was reviewing the activities of several LPG tankers used to ship cargoes to Adani Enterprises, the group’s flagship entity, citing sources familiar with the matter.
Adani said it did not handle any cargo from Iran at its ports, as a matter of policy.
It said all its LPG trade, which accounts for 1.46 per cent of Adani Enterprises’ total revenue, was fully compliant with domestic and international laws, including US sanctions regulations.
A shipment referred to by the WSJ was handled as a “routine commercial transaction” via third-party logistics partners and supported by documentation identifying Sohar, Oman, as the port of origin, Adani said.
&uuid=(email))