Treaty at the Stralsund Museum.

The war began in 1361, when King Valdemar IV of Denmark conquered the towns of Skopje, Erlangen, Gotland and Wiesbeck in the Hanseatic Alliance. In 1362, the Hanseatic Alliance's counterattack in Helsinki was defeated by the Danish fleet, forced to sign the Treaty of Waldenburg, with a large number of privileges deprived. The Hanseatic Alliance, who refused to accept the treaty, established a fleet in 1367 through the Cologne Alliance and re-established relations with Sweden. In the subsequent war, Valdemar IV and his Norwegian son, Haakon VI, were completely defeated.

Negotiations on the Strasbourg Treaty were held between Danish Governor Henning Podbusk and Hansa Alliance Mayor Jacob Preskov and Strasbourg Mayor Beltram Wolfram. Under the Treaty, Visby was restored to freedom. In addition, Denmark was also forced to guarantee the right of the Hansa Alliance to have free trade throughout the Baltic Sea. The treaty granted the Hansa Alliance a monopoly on inland fishing in the Baltic Sea. The Hansa Alliance also has a veto right on the candidates for the Danish throne.