Iran has announced plans for new military exercises in the world’s most important oil shipping lane. This is its latest gesture towards the West, as new sanctions threaten Tehran’s oil exports. Real Admiral Ali Fadavi, naval commander of the Revolutionary Guards Corps, said exercises next month would focus directly on the Strait of Hormuz. Leading up to this, Iran held a 10-day drill which ended on Monday in neighbouring seas. Fadavi said Iran has full domination over the region and controls all movements within it. Iran has threatened in recent weeks to block the strait if new sanctions harm Tehran’s oil exports. This week Iran warned they would take action if the United States sails an aircraft carrier through it.