Daijiworld Media Network - Mumbai

Mumbai, Feb 10: Adani Enterprises on Tuesday confirmed that it is in discussions with the US Office of Foreign Assets following allegations mentioned in a Wall Street Journal report published in June last year.

In a regulatory filing, the company said it has received a Request for Information from the Office of Foreign Assets dated February 4 and is responding as part of its ongoing engagement with the US authority. Clarifying the development, the company stated that the communication does not contain any findings of aberrations or non-compliances.

The Wall Street Journal report had alleged that billionaire Gautam Adani was attempting to persuade officials in the administration of US President Donald Trump to drop foreign bribery charges against him. The report also claimed that US prosecutors were examining whether companies linked to the Adani Group had imported Iranian-origin liquefied petroleum gas (LPG) into India through the group-operated Mundra port.

According to the report, a review of tanker movements between the Persian Gulf and Mundra port showed operational patterns that investigators often associate with attempts to evade sanctions.

The Adani Group had denied the allegations at the time, stating that it “categorically denies any deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG.” The group’s spokesperson had also said that it was not aware of any investigation by US authorities on the matter.

Following the disclosure, shares of Adani Enterprises declined by up to 3.5% during trading on Tuesday.