Two major events are happening this week in Russia. First, the president Vladimir Putin is stepping down on Wednesday, May 7, after eight years of presidency and he will be replaced by Dmitry Medvedev. And second, the Victory Day parade in Moscow takes place on Friday, May 9.

Intercontinental missiles and tanks are prepared to parade in Red Square for the first time since 1991 when the USSR collapsed. President Putin said that the display of heavy weapons was “not sabre-rattling,” BBC News reports.

“We do not threaten anyone and do not intend to do so,” said Putin.

The Russian leader also reminded that this Friday’s parade marked the end of World War II and it proved that Russian defense capabilities are growing.

“It's a demonstration of our growing capabilities in the defense sphere. We are capable of protecting our people, citizens, our state and our wealth,” said the president.

“For the first time in many years combat equipment will be involved in the parade,” Mr. Putin told government officials.

Strategic bomber planes and MiG fighter jets lined the sky on Monday, over the capital, as they were rehearsing for the military parade.

Although Putin is stepping down from presidency, he will take the post of prime minister.

The Victory Day parade is one of Russia’s most solemn and resonant public ceremonies, marking the defeat of Nazi Germany.