As part of the dispute with Perenco-documents, Luxembourg banks have been ordered to freeze Ecuador's assets. The Ecuadorian government pledged in June 2021 to honor damages awarded to Perenco by the World Bank's International Centre for Investment Disputes (ICID), which ruled that Ecuador had illegally terminated a production sharing agreement with the company.

A Luxembourg bailiff ordered several banks to freeze assets held by Ecuador in accounts in the country, due to a dispute over an out-of-court settlement of the dispute.391 million (382.17 million euros) which, according to the Anglo-French oil company Perenco, has not been paid.

A document seen by Reuters shows that a Luxembourg bailiff's office, Pierre Biel & Geoffrey Galle, ordered on July 28 122 banking entities operating in Luxembourg to freeze the assets in the accounts used by Ecuador on behalf of Perenco. An employee of the firm declined to comment, as he was not authorized to speak to parties not involved in the case.