In June 2009 Yrausquin joined the Aruban People's Party and in the September 2009 general elections he obtained a seat in the Estates of Aruba on the basis of preferential votes, while he was candidate number 29 on the list.

[1] On 30 October 2013 Yrausquin was named as Finance Minister in the second Mike Eman cabinet.

[2][3] On 5 July 2014 he resigned, citing "incredible abuse of power by the Dutch government in collaboration with the Governor (Fredis Refunjol)".

[5] In November 2016 Yrausquin was announced as the new Minister Plenipotentiary of Aruba, succeeding Alfonso Boekhoudt.

Yrausquin also announced to return to the Aruban People's Party, which he had left in 2014.