Adani Shares Dip on OFAC Inquiry Over Alleged Iranian LPG Imports

Shares of Adani Enterprises Ltd fell as much as 3.5% in Mumbai after the company disclosed a request from a US agency. The entity received a request on February 4 from the US Treasury Department’s Office of Foreign Assets Control (OFAC). OFAC is seeking information over alleged imports of Iranian petroleum products, which could potentially expose transactions to US sanctions risk. Adani denied the allegations, stating the communication does not contain any findings of aberrations or non-compliances. The company affirmed its voluntary and full cooperation with the US authority. This inquiry follows a June 2025 Wall Street Journal report alleging that Adani-linked firms may have imported Iranian LPG. The development introduces regulatory uncertainty and potential sanctions risk for the company, negatively impacting market sentiment.