IBOV 172,666.23 ▼ 15.81% IPSA 10,594.44 ▼ 1.41% IPC MEX 69,879.62 ▼ 0.01% MERVAL 3,017,221 — — COLCAP 2,487.00 ▼ 2.09% BVL PERÚ 57,093.72 ▼ 0.06% USD/BRL5.40▲ 8.56% USD/MXN18.53▼ 0.73% USD/CLP989.90▼ 0.55% USD/COP3,137▲ 0.22% USD/PEN3.44▼ 0.17% USD/ARS1,541▲ 0.74% USD/UYU40.08▼ 0.01% USD/PYG5,735▼ 0.44% USD/BOB11.82▲ 0.34% USD/DOP60.35▼ 1.26% USD/CRC450.04▼ 0.53% USD/GTQ7.64▼ 0.07% USD/HNL26.87▲ 0.02% USD/NIO36.62— 0.00% USD/VES885.08▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 0.20% EUR/BRL6.06▲ 7.86% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 172,666.23 ▼ 15.81% IPSA 10,594.44 ▼ 1.41% IPC MEX 69,879.62 ▼ 0.01% MERVAL 3,017,221 — — COLCAP 2,487.00 ▼ 2.09% BVL PERÚ 57,093.72 ▼ 0.06% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Monday, October 26, 2026

Lula’s Christmas Pardon Quietly Locks In Bolsonaro’s Fate

By · December 4, 2025 · 2 min read

Key Points

  1. Brazil’s Christmas pardon now blocks any shortcut out of jail for Jair Bolsonaro and those convicted over the 8 January riots.
  2. The decree mixes strict rules for coup-related and corruption crimes with softer treatment for elderly, sick and vulnerable prisoners.
  3. Supporters say it protects democracy; critics see the government using clemency to sideline its main rival.

Every December, Brazil’s president signs a Christmas pardon that can forgive or reduce prison sentences for some inmates. It is meant to ease pressure on a crowded prison system, not to free dangerous people.

This year, under President Luiz Inácio Lula da Silva, the pardon has become a tool in the long fight between Lula and his predecessor Jair Bolsonaro.

The new decree proposed by the government rules out any relief for crimes against the democratic order and for the storming of Congress, the Supreme Court and the presidential palace on 8 January 2023.

Leaders of criminal gangs, prisoners in maximum-security units, and those convicted of corruption, abuse of authority, torture, terrorism or racism are also excluded.

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Lula’s Christmas Pardon Quietly Locks In Bolsonaro’s Fate.
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At the same time, the measure opens the door for older prisoners, pregnant women, mothers of minors, people with disabilities and those with serious illnesses. For them, judges will be able to shorten sentences or end them.

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For Bolsonaro, sentenced to more than 27 years in prison for trying to stay in power after losing the 2022 election, the message is blunt. Neither individual grace, nor the collective Christmas pardon, nor a future amnesty in Congress will cover coup-related crimes.

His former aide and state’s witness Mauro Cid is also shut out because the text bars benefits for collaborators. There is a twist that many on the right see as hypocrisy.

In 2022, Bolsonaro used his own Christmas decree to help security agents accused over the Carandiru prison massacre, drawing outrage from the left. Today, Lula uses the same constitutional power to keep his main political opponent and many supporters locked in.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

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Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

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