Magadan is a port town and the administrative centre of Magadan Oblast, Russia. The city is located on the isthmus of the Staritsky Peninsula by the Nagaev Bay; it serves as a gateway to the Kolyma region. Magadan, founded in 1929, was a major transit centre for political prisoners during the Stalin era and the administrative centre of the Dalstroy forced-labor gold-mining operation. The town later served as a port for exporting gold and other metals and was visited by U.S. Vice President Henry Wallace in 1944.