In 1867 Alexander II, the Russian emperor, sold Alaska to the USA for 7.2 million dollars.

The Russian Empire was afraid to lose Alaska in future conflicts. For example, future war with Britain could make the things worse and leave the Empire without this hard-to-defend territory. Moreover, economic situation in the Empire was tough, and there were no possibility to develop Alaska's territory well. After a long period of negotiations the territory was finally sold to the US.

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More Info: en.wikipedia.org