The ships of the Project 12341 are intended for protection of sea communications, protection of escorts, struggle against the surface ships in coastal areas. For struggle against the surface ships there were six Malakhit medium range anti-ship missiles. For distribution targets in to the main missile complex there was a system of passive detection of the surface targets. The ships were armed "Osa" SAM system with ammunition of 20 missiles, 76-mm AK-176 gun and six-guns 30-mm anti-aircraft automatic gun AK-630. The power-plant of the ship consists of three diesel engines the common capacity 30 000 hp which rotate three screws. The maximal speed is 34 knots. Range of navigation with speed of 12 knots makes 3500 nautical miles. Despite of rather small displacement, the ship has high seaworthy qualities and ability to use the weapon at a condition of the sea of 5 points and speeds 24 knots.

The heavily armed guided missile corvette features more gun and zenith defense capabilities compared to previous missile ships. The remarkable amount of fire power and electronics mounted on such a small platform apparently was purchased at the price of poor sea-keeping characteristics. From 1970 to 1991 there were built more then 40 corvettes. Some of them were sold to Algeria, India, Libya, Syria.

Missile Corvette Mirazh laid down 30 August 1983 at the Almaz Shipyard, Leningrad, launched 19 August 1986, commissioned 30 December 1986.

On 23 October 2020, the missile corvette Mirazh was excluded from the lists of the fleet.