The Director of the International Security Cooperation Department at the Ministry of Foreign Affairs and International Cooperation, Salem Mohammed Al Zaabi, noted that the UAE’s assent to the International Maritime Security Construct partnership boosts the local and global trade, contributing to the conservation of international tranquility and safety and thus establishing the flow of energy supplies to the global economy.
For the time being, the US coalition includes Israel, the UK and South Korea, whereas Australia and China are still considering their joining. In the meantime, Germany and France have already declined US's invitation, in light of potential escalation.
The tensions between US and Iran began when the former withdrew from participation in the JCPOA (Joint Comprehensive Plan of Action) and re-imposed US nuclear-related sanctions. Following this event, the tensions peaked after a number of ship attacks in the Strait.
Here you can see a timeline of the events that followed.