Almost a year after the initial announcement, the acquisition of a 45% stake in Boluda Maritime Terminals by Morocco’s Marsa Maroc remains suspended in Spain. The transaction is currently under rigorous scrutiny by the Spanish foreign investment board, Jinvex, involving national security and intelligence agencies to assess potential risks. Although Boluda has assured that it will retain operational control, the Spanish government has yet to approve the deal. The situation is complicated by political tensions and the growing rivalry in Mediterranean port logistics, with Moroccan ports increasingly competing against major Spanish hubs. Madrid is currently balancing its openness to foreign investment with the protection of critical national port infrastructure.