Adani Enterprises reaches USD 275 million settlement with treasury | Today’s news

(Bloomberg) — Adani Enterprises has agreed to pay $275 million to settle an investigation by the Office of Foreign Assets Control, according to the Treasury Department.

The finance ministry said on Monday that the action related to purchases the company made of shipments of liquefied petroleum gas from a Dubai-based trader. “The red flags should have alerted AEL that the LPG was indeed coming from Iran,” the finance ministry said in a statement.

Adani Enterprises said earlier this year that it had received a request for information from the US Office of Foreign Assets Control related to transactions that may have involved Iran. This comes after the Wall Street Journal reported that Adani was being investigated by US prosecutors for importing Iranian liquefied petroleum gas through the port of Mundra.

–With help from Tom Schoenberg.

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