Israel's President Isaac Herzog has deferred any decision on Benjamin Netanyahu's November 2025 pardon request in his ongoing corruption trial, instead directing efforts toward a plea deal between the prime minister and the Attorney General. A March 2026 opinion from the Justice Ministry's pardons department indicated that clemency would be inappropriate absent resignation, an admission of guilt, or conviction, amid reported external pressure. As of mid-2026, no pardon has been issued, and the process remains stalled pending those negotiations. Traders assign low implied probabilities to near-term resolution by late 2026 dates, reflecting the procedural barriers, Herzog's stated conditions, and the uncertain timeline for any plea agreement or political shift that could alter the path to clemency.