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After the collapse of the Soviet Union back in 1991, the Russian Federation inaugurates its third president, Dmitry Medvedev, who succeeded Vladimir Putin. The new president of Russia was inaugurated in the Kremlin Palace that housed 2,400 guests.

The elections held in March 2008 showed a complete success of 42 year-old Dmitry Medvedev. Although Vladimir Putin handed over the wheel of power to a new president, he mentioned that he would continue his political career. This means that Mr. Putin is going to play an important role in the future of Russia.

Long before the elections Mr. Putin outlined that he is going to respect the constitution and not participate in the March elections for the 3^rd consecutive term. But according to the experts, the ex-president will still have a great influence on the Russian political arena. They believe that after becoming Russia's Prime Minister, Mr. Putin will remain the main figure in the administration of the new president.

Mr. Medvedev's inauguration ceremony took place in St. Andrew's Hall, one of Kremlin's most impressive places. The ceremony started with the tradition according to which an honor guard brings in the symbols of the Russia's presidential office. Afterwards the ex-president gave a speech regarding the handover of power. He described this process as "a hugely important stage" for Russian Federation.

In addition Mr. Putin advised Dmitry Medvedev to carry on with the policies implemented by the former president during his eight years of governing as the head of the state. Then, the new president pledged on the Russian constitution and gave a speech in which he promised to govern for "a better" Russia. In addition Mr. Medvedev thanked the ex-president for the support he had given during the presidential campaign, adding that he would be glad if such backing will continue in the future.

It is worth mentioning that the new president previously worked as the president's first deputy minister. Mr. Medvedev was also the chairman of Gazprom, which is Russia's state-owned gas monopoly. In addition he was the company's campaign chief and chief of staff. However, the history of his friendship with Mr. Putin is much richer.

During the 1990s he was an assistant professor at St. Petersburg State University. In this period he was given the position of an expert consultant for the mayor of the city, who at this time was Vladimir Putin. Experts consider that Mr. Putin will remain the main figure in Russian politics, at least for the near future, having a strong influence on the current president.