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flag India's parliament urges oil supply diversification amid global conflict risks.

flag A parliamentary committee in India has urged the government to reduce reliance on a few crude oil suppliers, citing risks from global conflicts, shipping disruptions, and sanctions. flag With 89% of oil imports, India faces vulnerabilities highlighted by the Russia-Ukraine war and Middle East tensions. flag The committee recommended diversifying sources, expanding strategic reserves, exploring alternative routes, and adopting hedging and flexible contracts. flag It also called for better coordination between energy and foreign affairs ministries, improved overseas investment conditions, and digital risk management to strengthen long-term energy security.

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