Israeli President Isaac Herzog has repeatedly signaled reluctance to grant Prime Minister Benjamin Netanyahu a pardon in his ongoing corruption trial before exhausting mediation efforts toward a plea deal. Following Netanyahu’s November 2025 request, Herzog’s office has emphasized procedural review by the Justice Ministry, which issued an opinion questioning both the authority and advisability of such an extraordinary step. As of late April 2026, Herzog explicitly deferred any pardon decision in favor of negotiations involving the attorney general, with further talks invited in May amid limited progress. External pressure from U.S. President Trump has not altered Herzog’s public commitment to legal process and national unity considerations. With only two weeks remaining until the June 30 deadline, these institutional and political dynamics underpin traders’ strong consensus against near-term clemency.