Russian defense minister Sergey Shoigu inspects a military parade marking the 71st Victory Day in Red Square in Moscow, the capital of Russia, on May 8, 2016. Russia hosts the annual military parade in Red Square to commemorate the World War II defeat of Nazi Germany, with over 10,000 soldiers and veterans participating. [Photo: CRIENGLISH.com]

Thousands of Russian troops have marched on Red Square in Moscow in the annual Victory Day parade.

The celebration marks the 71st anniversary of Russia's victory over Nazi Germany in World War II.

Victory Day is Russia's most important non-religious holiday, and is seen as a key element of the nation's identity, reflecting Russia's enormous suffering during the war.

Russia had the highest casualties of any country during the war, with the dead toll exceeding 26 million people.

In France, President Francois Hollande laid a wreath in front of a statue of Charles de Gaulle to mark the 71st anniversary of the Allied victory on Sunday.

Hollande laid another wreath at the tomb of the Unknown Soldier at the iconic Arc de Triomphe, before a moment of silence.

The Allied forces formally accepted the unconditional surrender of Nazi Germany on the 8th of May, 1945, with the day thereafter celebrated in Europe as Victory Day.