Nicolás Maduro faces U.S. federal charges in the Southern District of New York, including narco-terrorism conspiracy and cocaine importation conspiracy, after his January 2026 capture. He has pleaded not guilty to all counts, and his June 2027 trial date remains months away. On September 2, 2026, his defense filed a motion to dismiss the indictment on head-of-state immunity grounds, with prosecutors due to respond by October 2 and oral arguments scheduled for November 17. These procedural steps, combined with the case's political sensitivity and historical parallels to prior foreign-leader prosecutions, underpin trader consensus that a conviction on every count is far from assured at this early stage.