“Today, we approved support measures worth AED 1 billion (US$272 million) for the economic sector, aimed at assisting individuals, families, and businesses in navigating these exceptional circumstances,” Dubai’s media office said in a statement.

It added: “Long-term government planning reflects Dubai’s unwavering commitment to its citizens, residents.”

The UAE and other Gulf countries have faced waves of drone and missile salvos from Iran after Tehran unleashed a retaliatory aerial campaign on its neighbours in response to US and Israeli strikes beginning on Feb 28.

The attacks on the oil-rich states, including their hydrocarbon infrastructure, and Iran’s effective closure of the Strait of Hormuz, a crucial shipping route for around a fifth of global crude oil and liquefied natural gas, have disrupted Gulf economies and punctured their image as a safe haven for business and investment.

The media office said figures showed Dubai’s economy had grown 6.4% in the fourth quarter of 2025, according to updated GDP data.

The feared energy shock caused by the ongoing war has shaken international markets and pushed up prices globally.