Brazilian President Luiz Inacio Lula da Silva secured a decisive victory in the presidential runoff, winning 51.7% of the vote against conservative rival Flavio Bolsonaro, who refused to concede. The result marks a significant shift in Brazil's political landscape.
Lula, 81, secured 64.26 million ballots, surpassing Bolsonaro's 59.83 million, after trailing by nearly 2.2 million in the first round. The runoff saw a 80.8% turnout, a 2% increase from the initial election, highlighting widespread public engagement.
The victory signals a major setback for the right-wing movement, which has gained traction in Latin America, and underscores Lula's resilience in turning around a first-round defeat with a revitalized grassroots and digital campaign. Market reactions were swift, with Brazil's stock exchange halting trading following a sharp decline.
Bolsonaro has called for the results to be annulled, citing legal challenges, but experts suggest his arguments are weak. The outcome has drawn international attention, with Russian President Vladimir Putin congratulating Lula on his re-election and praising his role in strengthening bilateral ties.