Iran has stated that it may target “all economic centres” in the Middle East if U.S. and Israeli attacks continue.
Some analysts have expressed concerns that major financial hubs such as Dubai could become further involved in the ongoing conflict.
Islamic Revolutionary Guard commander Ebrahim Jabbari said on state media, “If the enemy decides to hit our main centres, we will hit all economic centres in the region.”
This statement followed reports of a drone strike that allegedly hit the car park of the U.S. consulate in Dubai, starting a fire but causing no injuries.
Jabbari also warned of potential disruptions to global energy supplies, saying Iran had closed the Strait of Hormuz, a key route for oil and gas shipments.
He suggested oil prices could rise from $80 to $200, which could affect global markets. Independent confirmation of the full closure of the Strait and those specific price predictions was not immediately available.
This warning comes as Dubai has reportedly experienced several nights of missile and drone attacks.
Some tourists have left public areas while air raid sirens have sounded across the city.
Videos shared on social media appear to depict visitors seeking shelter. Reports suggest some sellers are leaving the region, and the UK government has initiated emergency evacuation flights from Oman.
Airlines, including Emirates, Etihad, and Virgin Atlantic, are increasing departures, although many remain in the area as flights are cancelled and airports experience disruption.
The crisis has left thousands of cruise passengers reportedly stuck in Gulf ports. Ships are currently serving as floating hotels while operators wait for permission to sail through the threatened Strait of Hormuz.
The conflict reportedly escalated after U.S. and Israeli strikes that some sources claim killed Iran’s Supreme Leader Ayatollah Ali Khamenei.
In response, Tehran has reportedly launched attacks on U.S. bases and popular expat areas across the Gulf, including Dubai, Abu Dhabi, Qatar, Bahrain, and Kuwait. Independent verification of these developments is ongoing.
A missile strike near the U.S. consulate in Dubai on Tuesday evening sent smoke into the sky, but local officials quickly put out the fire. U.S. Secretary of State Marco Rubio stated that the drone hit a car park next to the consulate.
The UK Foreign Office is prioritising vulnerable citizens for repatriation flights and telling people not to go to airports unless they are contacted.
At the same time, some wealthy expats in Dubai are driving across the desert to leave through Oman or Saudi Arabia.
Foreign Secretary Yvette Cooper told MPs that the “safety and security” of British nationals remains the government’s top priority.