An Alaska man might have walked away as the biggest winner of last week’s high stakes summit between U.S. President Donald Trump and Russian President Vladimir Putin in Anchorage

The Trump-Putin summit will take place in a former Russian colony that the United States bought for $7.2 million in 1867. Here’s how the deal came together and why its legacy matters.

President Trump and Russian President Vladimir Putin are scheduled to meet Friday at Joint Base Elmendorf-Richardson in Anchorage, Alaska, to discuss the conflict between Russia and Ukraine.

"Every single sanction that was in place on the day he took over remain. And every – the impact of all those sanctions remain,” Secretary of State Marco Rubio said at a press meet.

The Alaska summit between President Trump and his Russian counterpart, Vladimir Putin, was more than a high-stakes encounter over the Ukraine war. It signaled America’s recognition that its own missteps have helped drive Russia closer to China,

The act of meeting and the nature of the interaction were such that the summit did considerable damage to the U.S. and broader western position on Ukraine.

The meeting between President Trump and Kremlin leader Vladimir Putin is taking place in a region rich with significance for Moscow. Once Russian territory, Alaska was sold by Alexander II in 1867 for $7.

Russian Foreign Minister Sergei Lavrov held calls on Saturday with his Turkish and Hungarian counterparts, the Russian foreign ministry said, hours after a summit between the U.S. and Russian presidents yielded no deal on ending the war in Ukraine.