Pakistan is considering purchasing oil and gas from Iran at lower prices following the end of the Iran–United States conflict and the lifting of sanctions on Tehran. Energy Minister Ali Parvez Malik announced the plan on Sunday, noting that the government aims to take advantage of the new trade opportunities with Iran.

Speaking in Lahore, Malik recalled that during the peak of the Iran–US conflict in April, petroleum prices had reached 460 rupees per liter, but global prices have since declined significantly. On June 17, Washington and Tehran signed the ‘Islamabad Memorandum of Understanding’ in Switzerland, mediated by Pakistan, under which the United States committed to lifting restrictions on Iran’s crude oil and petroleum exports, including related banking, insurance, and transport services.

Malik added that Prime Minister Shehbaz Sharif has already passed on the benefits of lower energy costs to the public by reducing fuel prices.