The Treaty of Utrecht, signed in 1713, marked a crucial turning point in European history, primarily ending the War of the Spanish Succession. The treaty resulted in a significant reconfiguration of territorial holdings in Europe and overseas colonies. Spain agreed to cede several territories, including the Spanish Netherlands, Naples, and Milan, to the Austrian Habsburgs, while Great Britain gained Gibraltar and the rights to the Asiento, allowing them to supply enslaved people to Spanish colonies. The treaty established a new balance of power in Europe, promoting relative peace for several decades and setting a precedent for future diplomatic negotiations.