Paraguay's Itaipu moves to recover R$ 1 billion frozen at Ueno Bank

The Paraguayan side of Itaipu Binacional has initiated legal action to recover approximately R$ 1 billion held in Ueno Bank, whose operations were suspended on Tuesday. The funds were earmarked for contractual obligations and agreements. The Paraguayan administration held US$ 163.8 million and 115.2 billion guaranis at the bank, totaling US$ 182.2 million. The Brazilian side confirmed it had no deposits there, stating operations continue normally without impact on energy production. The Central Bank of Paraguay suspended Ueno Bank due to financial problems, blocking access to deposits. Itaipu began using the bank in January 2025, and the frozen amount represents 7.6% of remittances received from Brazil between 2024 and 2026.