Iraq and Syria signed agreements in July with a consortium that includes TI Capital to conduct pipeline studies. Ethics experts state that Barrack should have recused himself from the discussions to avoid the appearance of a conflict of interest. In response, the State Department stated that Barrack has no direct stake in the pipeline and has complied with all federal ethics guidelines.
Wednesday, October 21, 2026
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Trump Envoy Barrack Promoted Partner's Firm for $15B Pipeline
Geopolitics12 days ago
A senior American representative to the Middle East lobbied for a specific investment firm to be part of a regional energy corridor. Thomas Barrack, acting as an envoy for the Trump administration, advocated for TI Capital to participate in a $15 billion oil pipeline connecting Iraq and Syria to bypass the Strait of Hormuz. Barrack remains entitled to up to 20% of profits from a separate venture managed by TI Capital, which is run by his business partner. These activities appear to violate federal ethics rules, according to sources cited by Reuters.
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