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The IRGC drills have been code-named "Great Prophet 2," according to a statement issued by the elite military force and carried by state-run news agencies.
IRGC Supreme Commander Major General Yahya Rahim Safavi is expected to give further details on the purpose of the military exercises and their locations in the coming days.
The announcement came as United States-led forces were carrying out naval war-games in the Persian Gulf in what analysts have said are meant to serve as a warning to Tehran.
Twenty five nations, including Britain, France, Italy, and Bahrain, have taken part in the naval exercises as part of the U.S. Proliferation Security Initiative (PSI). The goal of the exercises is to practice blocking transports of weapons of mass destruction.
In April, the IRGC conducted naval war-games, dubbed "Great Prophet," in the Persian Gulf and Sea of Oman. During the exercises, Iran put on display what it claimed were new stealth missiles, sonar-evading torpedoes, and even a "flying boat".
Iran has a dual military system with a regular Armed Forces as well as the IRGC. Both have their own Army, Navy, and Air Force and report directly to Supreme Leader Ayatollah Ali Khamenei. Iran Focus