🟢 At a Glance:
Gautam Adani is once again in the international spotlight, but not for a new port or solar farm. This time, US prosecutors are reportedly probing the Adani Group over alleged purchases of Iranian oil, potentially violating US sanctions. The news, first reported by Bloomberg, has stirred up political and market reactions — just when Adani was starting to bounce back from last year’s Hindenburg inferno.
🔍 What’s the Allegation?
- Who’s probing?
The US Department of Justice (DOJ). Serious people with serious subpoenas. - What’s the allegation?
That Adani Group entities bought oil from Iran, despite US sanctions. Iran oil = big no-no for American regulators since 2018. - Timeframe?
Alleged deals date back to 2019 and beyond — the exact window isn’t clear yet. - What does Adani say?
The group has denied any wrongdoing and said it hasn’t received any formal communication from US authorities as of now.
⛽️ Why Iranian Oil Is a Sanctions Minefield
- Since the Trump-era 2018 withdrawal from the Iran nuclear
- deal, the US has imposed strict sanctions on Iranian oil exports.
- Even indirect transactions — through third parties or intermediaries — can get flagged by US regulators.
- If proven, any Adani-linked entity trading in such oil could face heavy penalties, reputational damage, and banking restrictions.
📦 Which Adani Companies Are Allegedly Involved?
While the exact entity under probe hasn’t been officially named:
- Adani Ports and SEZ (APSEZ) is in the spotlight due to its role in logistics and bunkering.
- Bloomberg cited unnamed sources suggesting oil cargoes were linked to Adani but disguised through third-party firms.
- The transactions may have occurred through intermediaries in Singapore and UAE — classic offshore structuring.
📉 Market Reaction: Stocks Tumbling?
- As of market hours on June 2, Adani Group stocks have taken a hit, especially:
- Adani Ports
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