Adani Group Denies WSJ Report on Alleged Iran LPG Links, Calls Claims 'Baseless and Mischievous'
Ahmedabad | June 2, 2025, The Adani Group on Monday issued a sharp rebuttal to a report by The Wall Street Journal (WSJ) that alleged links between its entities and Iranian-origin LPG shipments, categorically dismissing the claims as “baseless and mischievous.”
In a stock exchange filing, flagship company Adani Enterprises asserted that the group had no involvement in any trade violating US sanctions and has not been notified of any investigation by US authorities.
“Adani categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG,” the company said.
“Any suggestion that Adani Group entities are knowingly in contravention of US sanctions on Iran is strongly denied. Such an assertion is not only slanderous but also an intentional act to injure the reputation and interests of the Adani Group.”
WSJ Report Sparks Global Buzz, Adani Hits Back
The WSJ article, which claimed that Adani-linked shipments may have included liquefied petroleum gas (LPG) originating from Iran, prompted swift global attention due to ongoing US sanctions on Iranian energy exports. However, Adani Group said the shipment in question originated from Sohar, Oman, and was processed through a routine commercial transaction involving third-party logistics partners.
“The LPG segment comprises just 1.46% of our total consolidated revenue. All trade is fully compliant with applicable domestic and international laws, including US sanctions regulations,” the company clarified.
Due Diligence, KYC, and Compliance Protocols in Place
Adani also underscored its strict internal compliance mechanisms, asserting that all suppliers are vetted against OFAC (Office of Foreign Assets Control) sanctions lists and other international due diligence protocols. The statement reiterated that Adani does not manage or facilitate any ships owned by Iranian entities, and has clear contractual clauses ensuring supply from non-sanctioned countries only.
“Appropriate KYC of suppliers is undertaken. All logistics are handled by internationally reputed third-party firms with a proven compliance record,” the filing stated.
Industry View: A Case of Speculative Journalism?
Market analysts and legal experts say the controversy points to growing scrutiny of global energy trade networks, especially amid geopolitical tensions involving US-Iran sanctions enforcement. However, they also caution against speculative reporting without verifiable evidence, particularly when such reports can influence investor sentiment.
“The WSJ report relies on unnamed sources and speculative tracking of cargo origins. Without concrete documentation, such claims can unfairly damage reputations,” said a senior international trade compliance consultant based in Singapore.
Adani Group Under Global Spotlight Again
This isn’t the first time the Adani Group has come under international media glare. The conglomerate, which has businesses spanning energy, ports, airports, logistics, and infrastructure, faced intense scrutiny in 2023 following allegations by US short-seller Hindenburg Research. While Adani denied wrongdoing, the episode triggered regulatory reviews and heightened focus on the group’s operations.
Since then, Gautam Adani, the group’s chairman, has consistently emphasized transparency, governance reforms, and adherence to global compliance standards to regain investor confidence.
Looking Ahead: Legal, Market, and Reputational Ramifications
While the current controversy may not immediately lead to legal action without evidence, the reputational risk is real, especially for a group seeking global partnerships and expansion into sensitive sectors like defence, data centres, and energy infrastructure.
Adani’s strong rebuttal, however, indicates that the conglomerate is prepared to defend its position and protect its standing in global markets.
As regulatory frameworks tighten worldwide and ESG (Environmental, Social, and Governance) standards evolve, Indian multinationals like Adani Group will remain under close international scrutiny. The group’s firm denial of the WSJ’s allegations, coupled with detailed disclosures, may help contain fallout — but the incident highlights the growing intersection of geopolitics, journalism, and corporate accountability.