This is a great exercise to work the obliques, as well as the shoulder and legs. This is an exercise that I would call a weighted carry, as opposed to something like a bench press where you are not moving yourself but rather are moving a weight. In this one you are keeping the weight stationary and moving your body under a heavy load. Very challenging exercise if you start to add weight to it.
I would highly recommend any serious weightlifter add this to their training program.
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