The Spasskaya Tower (Saviour's Tower) is located on the eastern wall of the Kremlin, next to the famous Red Square and St. Basil's Cathedral. It is considered one of the most famous symbols of the Russian capital. It was built in 1491 during the reign of Ivan the Great. It is distinguished by containing a huge clock. It was adopted to determine the official time of the city, and the New Year is celebrated in this majestic square, where thousands of citizens gather in front of it every year.