The trip was not one-sided in favour of Russia, however, as England likewise benefited from Peter's visit. Peter's father, Tsar Alexis, had severed diplomatic and commercial ties with England following the execution of King Charles I in 1649. The trade between the two countries declined precipitously and the Muscovy Company's monopoly on Anglo-Russian trade deteriorated in value. By the time of Peter's reign, many English merchants wished to gain access to the Russian markets thanks to the large quantities of various goods they could sell to the Russians. Additionally, English shipbuilders sought the importation of Russian raw materials (primarily oak) for the Royal Navy. The English were partially successful negotiating with Peter to establish stronger commercial ties. Noted academic Arthur MacGregor wrote as such concerning the impact of the trip: