In 1867, Russia’s decision to sell Alaska to America turned out to be a historic mistake that was to go unnoticed for years to come. The sum paid by the US was only $7,200,000. Although, in the light of the circumstances at the time, it appeared logical, retrospectively, the act looks extremely shortsighted. Russia found itself economically constrained, geographically far away from the region and fearful of its falling into the hands of the British without any compensation. In reality, however, the region had proved immensely valuable both strategically and naturally. Its vast reserves of oil, gold, and natural resources would later transform it into one of the most economically significant territories in the United States.
