It's Alaska! A 'Popular' Place that Russia Sold to USA in 1867 for $7.2 Million

U.S. President Donald Trump has officially announced that his meeting with Russian President Vladimir Putin will take place on Friday, August 15, 2025, in Alaska.

He promised to share further details shortly.

"The highly anticipated meeting between myself, as President of the United States of America, and President Vladimir Putin, of Russia, will take place next Friday, August 15, 2025, in the Great State of Alaska," Trump wrote on Truth Social, adding that "further details will follow."

Putin Invites Trump to Moscow

Moscow expects Putin and Trump to hold next meeting after Alaska in Russia. The US President has received an invitation, Putin's aide Yury Ushakov said.

In 1867, Russia sold Alaska to the United States for $7.2 million, equivalent to about two cents per acre. The deal was driven by Russia’s concern that it could not defend or profit from the remote and sparsely populated territory, especially after its costly involvement in the Crimean War. Negotiations were led by Russian diplomat Eduard de Stoeckl and U.S. Secretary of State William H. Seward, who saw Alaska as a strategic asset for trade and expansion.

At the time, many Americans mocked the purchase, calling it "Seward’s Folly" or "Seward’s Icebox," believing the land was nothing but frozen wilderness. However, the acquisition proved to be a major bargain, as Alaska would later yield vast natural resources, including gold, oil, and fisheries—making it one of the most valuable territorial expansions in U.S. history. The formal transfer took place on October 18, 1867, in Sitka, and the date is still celebrated in Alaska as Alaska Day.

Kremlin Confirms Alaska Summit

The Kremlin has confirmed the agreement to hold the U.S.-Russia summit on August 15. According to Yury Ushakov, aide to the Russian President, the choice of venue reflects intersecting economic interests in Alaska and the Arctic region, where large-scale, mutually beneficial projects are being considered.

“But of course, the presidents themselves will undoubtedly focus on discussing options for a long-term peaceful settlement of the Ukrainian crisis,” said Ushakov.

In the coming days, both Moscow and Washington will work on the “practical and political parameters” of the summit.

Security Was a Factor in Timing

Trump previously announced the summit on his social media platform, Truth Social, indicating the meeting could have happened earlier but needed careful security arrangements.

The agreement to hold the summit followed a three-hour meeting between Putin and Steven Witkoff, Trump’s special envoy, on August 6. Afterward, Ushakov said that while next week was initially proposed, the timing depends on preparations for the "important meeting."

Putin-Zelensky Meeting Still Uncertain

Bloomberg, Politico, and The Washington Post reported that Western intermediaries had suggested that Putin’s participation would be conditional on also meeting with Ukrainian President Volodymyr Zelensky. Trump later denied this:

“They want to meet with me, and I’ll do everything I can to stop the deaths,” Trump said, while also mentioning a “good prospect” for a three-way meeting including Zelensky.

Putin has said he is not opposed to meeting Zelensky under “certain conditions,” though those conditions are not yet in place. Zelensky has signaled openness to either bilateral or trilateral formats.

Alaska Talks May Include Territorial Swaps

According to CBS News, a senior White House official confirmed that Zelensky may “take part” in the Alaska summit in some form. The core topic of the Trump-Putin meeting will be the conflict in Ukraine, with expectations of a proposed ceasefire and a “territorial exchange” between Russia and Ukraine.

“You’re looking at territories that have been contested for three and a half years… We are considering the return of some, some exchanges. It’s complicated. Some will be returned, some will be exchanged,” Trump said.

He emphasized that territorial compromises could benefit both sides and said the issue would be addressed soon.

Trump Expects Action from Zelensky

Trump noted that for the peace process to proceed, Zelensky must be prepared to “sign something” and obtain all necessary internal approvals. When asked whether such decisions would require a referendum or parliamentary support in Ukraine, Trump responded:

“He [Zelensky] has started the process to get what’s necessary. Not authorized to do certain things? I told him, well, then get the authority quickly, because we’re getting close to a deal. And he’s doing it.”

This would be the first in-person meeting between the Russian and U.S. presidents since the 2021 summit between Putin and Joe Biden. Trump has warned that failure to reach a deal could lead to new sanctions but expressed hope for a ceasefire outcome.