Dmitry Medvedev was sworn in Wednesday as Russian president by his powerful mentor, Vladimir Putin, AFP reports. The inauguration of Russia’s new president took place at midday in the Andreyevsky hall of the Kremlin palace.

The question is whether the 55-year-old ex-KGB officer, who led Russia for eight years, is willing to step back and let Medvedev, 42, rule the country. Putin named Medvedev as a preferred successor ensuring his victory in the March polls with 72% of vote. He will become Russia’s prime minister, but promised he would not change the balance of power between president and government.

Putin mentioned Medvedev is the right man to head Russia and said he sees no problem working with him, as they both share views on Russia’s future. The country’s constitution gives a president strong powers, including the right to define Russia’s foreign and domestic policy, appoint key ministers and control key security and defense agencies.

The change of power comes at a quite difficult time in East-West relations, as the U.S. is condemning Moscow’s support for separatist rebels inside neighboring Georgia, and Russia is angry over NATO’s promise to give membership to Georgia and Ukraine.

It appears that Friday, the two men, dubbed the “tandem” by Russian newspapers, will star at an annual Red Square military parade featuring tanks and nuclear missiles for the first time since the Soviet collapse in 1991.

Medvedev did not give many details regarding his foreign policy stand and it is still unclear how much influence Putin will continue to exercise from his government office.