Trump envoy kept financial ties to firm behind $15 billion Hormuz-bypass oil pipeline plan
DUBAI: Thomas Barrack, a top US diplomat in the Middle East, advocated for a firm run by his business partner to take part in the development of an oil pipeline from Iraq to Syria, three people said, activities which appear to violate federal ethics rules. In July, Iraq and Syria signed memorandums of understanding with a consortium made up of the company, Californian investment group TI Capital,…
Thomas Barrack, a US diplomat in the Middle East, lobbied for a firm owned by his business partner Ziad Ghandour to participate in a $15 billion oil pipeline project from Iraq to Syria. This pipeline was later included in a consortium that included Chevron and Qatar’s UCC Holding, with the aim of rehabilitating the Kirkuk-Baniyas Pipeline.
The pipeline would bypass the Strait of Hormuz, a critical chokepoint in global oil trade. The project, under the leadership of Ghandour, faced criticism due to potential conflicts of interest. Barrack, who also has a financial stake in a similar real estate venture managed by TI Capital, was alleged to have violated federal ethics rules.
He was required to recuse himself from such matters due to his financial ties with the firms involved. Despite this, Barrack's office and Chevron did not comment on the matter, while TI Capital and Ghandour did not respond to requests for comment.
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Also reported by 3 other outlets
- Trump envoy kept financial ties to firm behind $15 billion Hormuz-bypass oil pipeline plan jpost.com
- Trump envoy kept financial ties to firm behind $15 billion Hormuz-bypass oil pipeline plan investing.com
- Trump envoy kept financial ties to firm behind $15 billion Hormuz-bypass oil pipeline plan al-monitor.com
