Adani Enterprises agreed to pay $275 million to resolve a probe by the US Treasury's Office of Foreign Assets Control. The settlement stems from the company's purchases of liquefied petroleum gas from a Dubai-based trader that originated from Iran, violating US sanctions against the Middle Eastern nation.

The Treasury Department stated Monday that "red flags should have put AEL on notice that the LPG actually originated from Iran." Adani had earlier this year received a request for information after the Wall Street Journal reported the company was being investigated by US prosecutors about Iranian LPG imports through Mundra port.

The settlement represents a substantial financial penalty for Adani Enterprises, reflecting the serious consequences of violating US sanctions. The case demonstrates how US authorities are increasingly scrutinizing global energy companies' supply chains to ensure compliance with international sanctions regimes.