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Itaipu seeks court recovery of R$1 billion held in suspended Paraguayan bank

g1.globo.com (Portuguese) — November 8, 2026 at 03:01 PM UTC

The Paraguayan side of Itaipu Binacional had about R$1 billion deposited in Ueno Bank, a Paraguayan financial institution whose operations were suspended on Tuesday, and has initiated legal action to recover the funds. The hydroelectric plant announced the judicial measures on Saturday. The money, totaling approximately US$182.2 million, was held in accounts as of November 3 and was intended for contractual obligations and agreements. The Brazilian administration of Itaipu confirmed it had no funds in Ueno Bank and stated operations continue normally without impact on energy production. The Paraguayan administration is working with the state attorney general's office and following central bank procedures for the return of deposits. The bank's suspension occurred amid political instability in Paraguay, including the recent impeachment of former President Santiago Peña.

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