❗️US envoy Barrack pushed business partner’s firm for $15 billion Hormuz bypass pipeline project

Thomas Barrack, a senior US diplomat in West Asia, pushed for a company linked to his business partner to participate in a project to develop an oil pipeline connecting Iraq and Syria, according to three people familiar with the matter to Reuters. The activities appear to breach federal ethics rules.

In July, Iraq and Syria signed memorandums of understanding with a consortium comprising California-based investment firm TI Capital, Chevron and Qatar’s UCC Holding to conduct technical and financial studies ahead of rehabilitating the pipeline, which would bypass the Strait of Hormuz chokepoint.

Barrack, who serves as the US presidential special envoy to Iraq and Syria and ambassador to Turkiye, has longstanding business ties with TI Capital and its founder, Ziad Ghandour. Public records show that during his 2025 confirmation hearings, Barrack held a financial interest entitling him to as much as 20% of the profits from a real estate venture near San Francisco managed by TI Capital, where Ghandour serves as CEO. Barrack said at the time that he intended to retain the interest.

Two people with direct knowledge of the discussions said Barrack advocated for Ghandour’s company to be included in the pipeline project during meetings with Syrian and Iraqi officials after the US-Israeli war on Iran began.

On 16 June, a month before the consortium agreement was signed, Barrack and Iraqi Prime Minister Ali al-Zaidi issued a joint statement praising Iraq’s decision "to advance a memorandum of understanding with TI Capital to rehabilitate the Kirkuk-Baniyas Pipeline." The statement did not mention Chevron or UCC Holding in connection with the project.