AdaniEnterprises Limited (AEL) has agreed to pay $275 million to settle potential civil liability tied to alleged violations of US sanctions on Iran, the US Department of Treasury said on Monday. According to the Treasury’s Office of Foreign Assets Control (OFAC), the company imported liquefied petroleum gas shipments that were presented as originating from Oman and Iraq, but were in fact sourced fromIranthrough a Dubai-based trader.
AEL has already begun implementing some of these commitments, including the following:
The Justice Department is also close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the US economy, according to two sources familiar with the matter.
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