On May 18, 2026, the U.S. Treasury's Office of Foreign Assets Control (OFAC) announced that Adani Enterprises Limited (AEL), an India-based multinational, agreed to pay $275 million to settle 32 apparent violations of Iran-related sanctions — specifically for causing U.S. financial institutions to process approximately $192 million in payments for liquified petroleum gas (LPG) that originated from Iran, not from Oman or Iraq as represented by AEL's Dubai-based supplier. OFAC found the violations egregious and non-voluntarily disclosed, citing multiple red flags that AEL either missed or dismissed without adequate investigation: third-party warnings about Iranian-origin cargo, vessels routinely engaging in AIS manipulation and suspicious routing, certificates of origin bearing signs of falsification, and prices so far below market that they could only be commercially explained by Iranian sourcing. The case stands as a landmark reminder that sanctions compliance is not a box-checking exercise — companies must proactively investigate, formally document, and genuinely resolve red flags rather than accept supplier assurances at face value, and that failure to do so carries nine-figure consequences.