sentences:  The Great Northern War against Sweden consumed much of Peter's attention for years, however the Swedes were eventually defeated and peace agreed to in 1721.Russia annexed the Baltic coast from Sweden and parts of Finland, which would become the site of the new Russian capital, Saint Petersburg.The Russian victory in the Great Northern War marked a watershed in European politics, as it not only brought about the eclipse of Sweden and Poland as great powers, but also Russia's decisive emergence as a permanent factor in Europe.