WASHINGTON, Feb 18 (Reuters) – The U.S. Treasury Department said on Wednesday that companies working in the Venezuelan oil business must pay local taxes, permits and fees to the government of Venezuela, while royalties and federal taxes must be paid into a fund managed by the United States.
The Treasury said the royalties on energy, fixed per-barrel levies and federal taxes must be paid into the Foreign Government Deposit Funds, managed by the Trump administration. The information is in a document called Frequently Asked Questions, which was seen by Reuters ahead of its publication on Treasury’s website.
The FAQ refers to two authorizations, known as general licenses, that Treasury issued on February 10. One lifted U.S. sanctions on exports, sales, storage and transportation of Venezuelan oil. The other authorized the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela.
(Reporting by Timothy GardnerEditing by Rod Nickel)
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