UPSC Prelims Practice Questions — 51% of India’s July oil imports from Russia

Q1. As stated by the Government in Parliament while outlining measures to secure India's energy supplies, Indian oil PSUs at present procure crude oil from how many countries?

  • A. 27
  • B. 32
  • C. 40
  • D. 46

Q2. The 'Indian Basket' of crude oil, whose price the Government publishes, is best described as which one of the following?

  • A. The weighted average landed cost of all crude grades actually imported by Indian refiners in the preceding month, compiled and released by the DGCI&S
  • B. An average of West Texas Intermediate (sweet grade) and Urals (sour grade) crude, weighted by the throughput of Indian refineries
  • C. A derived basket of sour grade crude (average of Oman and Dubai) and sweet grade crude (Brent Dated) processed in Indian refineries
  • D. An average of Oman, Dubai and Brent Dated crude together with domestically produced Bombay High crude, weighted by the throughput of Indian refineries

Q3. Under the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, the US President is authorised to impose tariffs of up to 100 per cent on which one of the following categories of countries?

  • A. The ten largest importers of Russian crude oil, natural gas and refined petroleum products taken together
  • B. The five countries absorbing the largest shares of Russia's oil and natural gas exports
  • C. Any country whose imports of natural gas from Russia exceed 15 per cent of its total gas imports
  • D. The three largest buyers of Russian seaborne crude carried on shadow-fleet tankers

Q4. With reference to the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, consider the following: 1. It was passed by the US House of Representatives by a vote of 262-159, having earlier been cleared by the US Senate. 2. It mandates the automatic imposition of a 100 per cent tariff on India from the date the President signs it. 3. It provides for a five-year extension of sanctions on Iran. 4. It exempts countries that import less than 15 per cent of their natural gas from Russia and are taking significant steps to reduce such imports. Which of the above is/are correctly identified?

  1. It was passed by the US House of Representatives by a vote of 262-159, having earlier been cleared by the US Senate.
  2. It mandates the automatic imposition of a 100 per cent tariff on India from the date the President signs it.
  3. It provides for a five-year extension of sanctions on Iran.
  4. It exempts countries that import less than 15 per cent of their natural gas from Russia and are taking significant steps to reduce such imports.
  • A. 1 and 2
  • B. 2 and 4 only
  • C. 1, 3 and 4
  • D. 3 and 4 only

Q5. Consider the following statements comparing the two phases of India's Strategic Petroleum Reserve (SPR) programme: 1. Phase I created 5.33 MMT of storage at Visakhapatnam, Mangaluru and Padur, whereas Phase II envisages 6.5 MMT at Chandikhol and Padur. 2. Unlike the Phase I facilities, the Phase II facilities are to be developed as commercial-cum-strategic reserves on public-private partnership mode. 3. Phase II was approved in July 2021, and the Chandikhol facility in Odisha accounts for 2.5 MMT of its sanctioned capacity. Which of the statements given above is/are correct?

  1. Phase I created 5.33 MMT of storage at Visakhapatnam, Mangaluru and Padur, whereas Phase II envisages 6.5 MMT at Chandikhol and Padur.
  2. Unlike the Phase I facilities, the Phase II facilities are to be developed as commercial-cum-strategic reserves on public-private partnership mode.
  3. Phase II was approved in July 2021, and the Chandikhol facility in Odisha accounts for 2.5 MMT of its sanctioned capacity.
  • A. 1 and 3 only
  • B. 1 and 2 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q6. India's underground crude oil storage caverns at Visakhapatnam, Mangaluru and Padur have been set up and are held by which one of the following?

  • A. The Petroleum Planning and Analysis Cell, an attached office of the Ministry of Petroleum and Natural Gas
  • B. The Oil Industry Development Board, a statutory body under the Ministry of Petroleum and Natural Gas
  • C. Indian Strategic Petroleum Reserves Limited, a special purpose vehicle under the Ministry of Petroleum and Natural Gas
  • D. The Directorate General of Hydrocarbons, a technical arm of the Ministry of Petroleum and Natural Gas

Q7. Following the Western embargoes and the G7-led price cap, by approximately how much did the share of Russia's oil exports going to China, India and Türkiye increase between 2021 and 2023?

  • A. It rose by about 15 per cent
  • B. It rose by about 40 per cent
  • C. It rose by about 53 per cent
  • D. It more than doubled, rising by over 100 per cent

Q8. The European Union's embargo on seaborne Russian oil, backed by the G7 price cap enforced through a ban on maritime services such as insurance, came into force from which one of the following?

  • A. February 2022 for crude oil, with refined petroleum products covered from December 2022
  • B. February 2023 for crude oil, with refined petroleum products covered from December 2023
  • C. December 2022 for crude oil, with refined petroleum products covered from February 2023
  • D. December 2022 for both crude oil and refined petroleum products simultaneously

Q9. Consider the following statements regarding the India-United States Joint Statement of February 2026 on trade: 1. Tariffs on about USD 30.94 billion of Indian exports were reduced from 50 per cent to 18 per cent. 2. Tariffs on a further USD 10.03 billion of Indian exports were reduced from 50 per cent to 10 per cent. 3. The Joint Statement set out a framework for an Interim Agreement while reaffirming commitment to continued Bilateral Trade Agreement negotiations. Which of the statements given above is/are correct?

  1. Tariffs on about USD 30.94 billion of Indian exports were reduced from 50 per cent to 18 per cent.
  2. Tariffs on a further USD 10.03 billion of Indian exports were reduced from 50 per cent to 10 per cent.
  3. The Joint Statement set out a framework for an Interim Agreement while reaffirming commitment to continued Bilateral Trade Agreement negotiations.
  • A. 1 and 2 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q10. In the India-United States trade understanding of 2026, the figure of USD 500 billion refers to which one of the following?

  • A. Cumulative two-way India-US merchandise and services trade targeted by 2030 under the Bilateral Trade Agreement
  • B. Intended Indian purchases of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over five years
  • C. Indian corporate investment pledged in US manufacturing and semiconductor facilities over the coming decade
  • D. US investment intended in Indian infrastructure and critical mineral projects over the next five years

Q11. Consider the following statements about India's oil imports from Russia: 1. The import bill for Russian oil in July 2026 stood at about USD 7.3 billion, roughly one-and-a-half times the amount spent in July 2025. 2. In volume terms, India's oil imports from Russia in July 2026 were about 26 per cent higher than in June 2026. 3. Before February 2022, Russia accounted for under 2 per cent of India's crude oil imports. Which of the statements given above is/are correct?

  1. The import bill for Russian oil in July 2026 stood at about USD 7.3 billion, roughly one-and-a-half times the amount spent in July 2025.
  2. In volume terms, India's oil imports from Russia in July 2026 were about 26 per cent higher than in June 2026.
  3. Before February 2022, Russia accounted for under 2 per cent of India's crude oil imports.
  • A. 1 and 2 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q12. The merchandise trade indices used to track unit-value changes in India's exports and imports were recently rebased. Which one of the following correctly states the rebasing and the authority that compiles these indices?

  • A. Base year shifted to FY 2022-23, replacing FY 2012-13; compiled by the DGCI&S under the Ministry of Commerce and Industry
  • B. Base year shifted to FY 2022-23, replacing FY 2011-12; compiled by the National Statistical Office under the Ministry of Statistics and Programme Implementation
  • C. Base year shifted to FY 2021-22, replacing FY 2012-13; compiled by the DGCI&S under the Ministry of Commerce and Industry
  • D. Base year shifted to FY 2023-24, replacing FY 2011-12; compiled by the Central Board of Indirect Taxes and Customs under the Ministry of Finance