The Russian American Company was established in 1799 to promote trade and colonization in North America, particularly in the region of present-day Alaska. It was a state-sponsored enterprise of the Russian Empire, aiming to exploit the natural resources of the area, especially fur-bearing animals. The company played a significant role in the early Russian presence in North America. The company operated until 1867, when the United States purchased Alaska from Russia. During its existence, the Russian American Company established settlements, trading posts, and engaged in fur trading, significantly impacting the local indigenous populations and the economy of the region.