UPSC Prelims Practice Questions — At G7, Trump signals swift return of sanctions on Russian oil shipments
Q1. Within the United States Government, the administration and enforcement of economic and trade sanctions on shipments of Russian-origin crude oil is primarily operationalised by which one of the following?
- A. Bureau of Industry and Security (BIS) under the Department of Commerce
- B. Directorate of Defense Trade Controls (DDTC) under the Department of State
- C. Office of Foreign Assets Control (OFAC) under the Department of the Treasury
- D. Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury
Q2. In the context of restrictions on Russian energy exports following the Ukraine war, the term 'Price Cap Coalition' refers to which one of the following?
- A. A consortium of OPEC+ producers that voluntarily caps the export price of crude to non-aligned buyers
- B. A group comprising the G7, the European Union and Australia that has fixed a maximum permissible price for seaborne Russian-origin crude oil
- C. A UN Security Council mechanism that fixes the ceiling price of Russian oil cargoes inspected at chokepoints such as the Strait of Hormuz
- D. An International Energy Agency (IEA) initiative obliging all member states to release strategic petroleum reserves whenever Russian oil crosses a stipulated price
Q3. With reference to the Price Cap Coalition on seaborne Russian-origin crude oil, consider the following:
1. Australia
2. India
3. The European Union
4. Japan
Which of the above is/are correctly identified as participants in the Price Cap Coalition?
- Australia
- India
- The European Union
- Japan
- A. 1 and 3 only
- B. 2 and 4 only
- C. 1, 3 and 4
- D. 1, 2, 3 and 4
Q4. How many countries were invited as non-member outreach guests to the 52nd G7 Leaders' Summit held in June 2026?
- A. Three
- B. Four
- C. Five
- D. Seven