PAKISTAN – (Web Desk) – Pakistan could save between $280 million and $340 million every year on crude oil imports if sanctions on Iran are lifted. This is according to a new research report by Karachi-based Topline Securities. The Pakistan Iran oil savings would come from buying discounted Iranian crude at lower prices.
Pakistan and Iran have big plans to grow their trade from $3 billion to $10 billion. Last year, both countries signed 12 agreements covering different areas of cooperation. Iranian President Masoud Pezeshkian recently visited Pakistan to push this agenda forward.
But there is one big condition. Pakistan’s foreign office said all economic progress with Iran depends on how fast sanctions are removed. Spokesperson Tahir Andrabi told reporters that trade projects and sanctions relief must move together.
The report says Pakistan could source 10 to 20 percent of its total petroleum needs from Iran. With a discount of around 10 percent, including freight savings, the financial benefit would be significant. Pakistan spent nearly $17 billion on petroleum imports in 2025.
Iran previously offered crude oil to Pakistan at discounts of 13 to 17 percent between 2009 and 2012. That stopped when European Union sanctions cut Iranian banks off from SWIFT. Today, Iranian Light and Heavy crude grades still trade at a 2 to 3 percent discount in the market.
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