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What did Philip V give up under the Peace of Utrecht?
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Under the Peace of Utrecht, which concluded the War of the Spanish Succession, Philip V was permitted to retain the Spanish throne and his American possessions, but he was required to cede significant territories to secure peace.1
Specifically, Philip V gave up the following:
- European Possessions: He ceded the Spanish Netherlands (including Belgium and Luxembourg), as well as his Italian territories, which included Milan, Naples, Sardinia, and Sicily.12
- Strategic Territories to Britain: He ceded Gibraltar and Minorca to Great Britain.31
- Commercial Rights: Spain granted Britain the asiento, an exclusive right to supply enslaved people to Spanish colonies for 30 years, along with the right to send one ship per year to trade with Spanish America.312