DUBAI: The United Arab Emirates, though a prominent foe of Iran in the Middle East's power struggles, has tempered its reaction to attacks on oil tankers off its coast in an effort to protect its reputation as a safe and stable business hub.
The divergent approach by two crude-exporting heavyweights illustrates the complexities of dealing with Iran, which they see as a destabilising force in the region. "The UAE is far more pragmatic and strategic, and has more to lose. Saudi Arabia is the bigger concern for Iran so there is messaging coming out," said another diplomat.Western diplomats said the UAE, where expatriates are a majority of the population, shared Riyadh's goals but unlike the kingdom has a diversified economy more exposed to regional shocks.
The emirate, whose economy is focused on tourism and international business services, is suffering a property downturn and a slowdown in retail as it gears up to host the World Expo trade fair in 2020.
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