Pseudagrion sublacteum is listed as Least Concern in view of its wide distribution, and because it is unlikely to be declining fast enough to qualify for listing in a threatened category.
Pseudagrion sublacteum has been recorded from northern South Africa to western and northern Africa, and in the Middle East. In northern Africa, its range includes two distinct, isolated relictual areas in the Palearctic: one in northern Morocco and one in the Middle East. These are both separated from the main part of the species' range by a gap of 1,800 to 2,200 km, in which the species is believed to be absent. Both isolates may be regarded as relicts from the Early Holocene pluvial epoch (8,000-10,000 years ago), during which the Saharan belt was more humid than it is now and had gallery forests growing around streams and savannah areas. Although the Moroccan isolate cannot be reliably distinguished from the nominal subspecies, the Levantine isolate shows a slight differentiation in colour (but not in structure) and is regarded as a distinct subspecies, Pseudagrion sublacteum mortoni Ris and Schmidt, 1936.