An Iran’s newly launched Ghadir submarine moves in the port of Bandar Abbas on Nov. 28, 2012.

:: Iran on Tuesday attempted to launch a cruise missile from a submarine in the Strait of Hormuz but the test failed, a news report has revealed quoting two US officials.

According to the Fox News report, an Iranian Yono-class “midget” submarine conducted the missile launch but didn’t succeed. Incidents of this kind have been reported from the region earlier.

In April, it was reported that the US Navy’s guided-missile destroyer fired a warning flare after an Iranian Revolutionary Guard vessel came within 1,000 meters of the USS Mahan.

Fox News quoted a BBC report saying that the Iranian officials announced late last month that the country’s defense budget had increased by 145 percent under President Hassan Rowhani and that its military is moving forward with a massive restructuring effort aimed at making it a “forward moving force.”