Lawmaker claims $229 million in Iraqi oil revenue vanished via Jersey company

A Turkish lawmaker has accused the ruling AKP government of mishandling nearly $229 million in oil transport revenue from Iraq in 2019. Deniz Yavuzyılmaz, a Zonguldak deputy for the Yeni Parti, claims the funds have effectively vanished after being routed through an offshore company.

Yavuzyılmaz alleges that the Turkish government received $494 million in transit fees from the Iraqi Kurdistan Regional Government for oil transported via the Iraq-Turkey pipeline. She asserts this was done without the consent of the Iraqi central government, violating international agreements. The lawmaker claims this revenue was first transferred to Turkish Energy Company (TEC), a firm established on the Isle of Jersey, a known tax haven.

According to Yavuzyılmaz's claims, $264 million of the total was eventually transferred to Turkey's state-owned pipeline operator, BOTAŞ. However, the whereabouts of the remaining $229 million remain unaccounted for. Yavuzyılmaz described this alleged disappearance as funds being "vaporized" on the Isle of Jersey, calling it an "international robbery."

The lawmaker presented her findings, citing reports from the Iraqi Regional Government, BOTAŞ, and the Turkish Presidency's Board of Inspectors. She demanded that the missing amount be recovered from the personal assets of President Tayyip Erdoğan and other implicated AKP officials. Yavuzyılmaz had previously made similar allegations concerning oil transport irregularities between 2014 and 2018.