During the war Peter I of Russia had occupied all Swedish possessions on the eastern Baltic coast: Swedish Ingria (where he began to build the soon-to-be new Russian capital of St. Petersburg in 1703), Swedish Estonia and Swedish Livonia (which had capitulated in 1710), and Finland.
In Nystad, King Frederick I of Sweden formally recognized the transfer of Estonia, Livonia, Ingria, and Southeast Finland (Kexholmslän and part of Karelia) to Russia in exchange for two million silver thaler, while Russia returned the bulk of Finland to Swedish rule.
The Treaty enshrined the rights of the German Baltic nobility within Estonia and Livonia to maintain their financial system, their existing customs border, their self-government, their Lutheran religion, and the German language; this special position in the Russian Empire was reconfirmed by all Russian Tsars from Peter the Great (reigned 1682-1725) to Alexander II  (reigned 1855-1881).
Nystad manifested the decisive shift in the European balance of power which the war had brought about: the Swedish imperial era had ended; Sweden entered the Age of Liberty, while Russia had emerged as a new empire.
The overse of an Fe- medal 1721 by the Danish medallist Anton Schultz. Treaty of Nystad to end the Great Northern War by Peter the Great.
The reverse of the above medal.
Signing of the Treaty of Nystad