Former NBC host Chuck Todd argued on Wednesday that Russian President Vladimir Putin made a "huge miscalculation" not giving President Donald Trump a "win" during the Alaska peace summit this week.

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.

Foreign Minister Sergei Lavrov said any Western security guarantees for Ukraine in an eventual peace deal could only be enacted with Moscow’s cooperation—essentially rendering them useless against another Russian invasion.

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.