This latest move from India’s “Shinshi” is pretty subtle: Russian oil has been cut by nearly 40%, and Iran has picked up the slack again on its end—geopolitical arbitrage at its best.

Coin World News: India Reliance Group's crude oil imports from Russia in April were approximately 217,800 barrels per day, a 38% decrease month-over-month. Data shows that in April, Russian crude oil accounted for about 16.7% of Reliance Group's total crude oil imports, down from 26.3% last month. Additionally, after receiving a temporary exemption in the United States, Reliance Group resumed imports of Iranian crude oil, marking the restart of related procurement after seven years. Overall monthly crude oil imports decreased by about 2.2%, falling to 1.3 million barrels per day.