US Investigates Indian Billionaire Over Iran Trade
(MENAFN) The United States Department of Justice has initiated a fresh inquiry into Indian tycoon Gautam Adani, citing suspected breaches of US sanctions imposed on Iran, according to a report by a Journal on Monday.
This investigation centers on purported imports of Iranian liquefied petroleum gas (LPG) into India via Adani’s Mundra port, situated in the western Indian state of Gujarat.
The Journal’s research revealed that vessels shuttling between Mundra and the Persian Gulf frequently displayed patterns typically linked to ships attempting to circumvent sanctions, which has led to increased examination of Adani’s commercial activities.
In response, the Adani Group stated it had no knowledge of any US investigations and described the report as “baseless and mischievous.”
The company asserted, “Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG.
Further, we are not aware of any investigation by US authorities on this subject.”
Earlier in May, United States Leader Donald Trump declared a complete halt on all acquisitions of Iranian oil and petrochemical goods, warning that any nation or individual found purchasing such products would face immediate secondary sanctions.
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