US reaches $275 mn settlement with India’s Adani over alleged Iran sanctions violations

The United States Treasury announced on Monday that it had reached a $275 million settlement with India’s Adani Enterprises Limited over alleged violations of sanctions against Iran.

“The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $275,000,000 settlement with Adani Enterprises Limited (AEL), an Ahmedabad, India-based company,” a US statement said. “AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC’s Iran sanctions.”

Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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Source: Insider Paper