The United Arab Emirates for decades has advertised itself as a haven for international business in a Middle East awash in violent upheaval. Those waves have now crashed into this nation, testing its economic model like never before.

The UAE, a close ally of the United States and Israel, faced more missile and drone attacks from Iran during the war than any other country. The attacks — and Iran's chokehold on the Strait of Hormuz — have more than halved the Emirates' exports of crude oil and natural gas. Its tourism and conference sectors have also suffered.