Web Desk: Pakistan will examine the option of importing crude oil and natural gas from Iran if US sanctions on Tehran are lifted, senior cabinet ministers said on Monday, while also signaling that easing geopolitical tensions could help stabilise energy markets and support the country’s economy.
The remarks came after the recent de-escalation of hostilities involving Iran and the United States, which officials said had already contributed to lower international oil prices.
Minister for National Food Security and Research Rana Tanveer Hussain said Pakistan could explore importing Iranian oil once international sanctions no longer restrict such trade.
Speaking to reporters in Lahore, Hussain said an end to sanctions would create an opportunity for Pakistan to reassess its energy import options.
He also said the conclusion of the recent conflict would benefit Pakistan’s economy by reducing uncertainty in regional markets. However, he cautioned that the economic effects of the confrontation between the United States and Iran could continue to influence the region and the global economy for up to two years.
Separately, Petroleum Minister Ali Pervaiz Malik said the government remains closely engaged in monitoring international petroleum prices and is prepared to pass on the benefits of lower global rates to consumers.
Addressing reporters in Lahore, Malik said the recent decline in domestic fuel prices exceeded the reduction recorded in international markets, adding that Prime Minister Shehbaz Sharif had directed authorities to ensure consumers received the maximum possible relief.
He said international oil prices had eased following the end of the Iran-US conflict, creating room for lower fuel costs.
Meanwhile, Malik dismissed criticism over fuel pricing, saying some groups were spreading misleading information about the government’s pricing decisions.
He added that Pakistan would continue to adjust domestic fuel prices in line with international market trends while honoring its existing international commitments.
Malik also confirmed that the government is considering the possibility of purchasing cheaper oil and natural gas from Iran if conditions permit.
The comments reflect Islamabad’s continued efforts to diversify its energy supplies while balancing economic considerations with international obligations and sanctions frameworks.
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