This is the case with a direct object pronoun. This type of pronoun is used to replace the direct object. The direct object is the part of the sentence that accompanies the verb and tells us who is performing the action.
Then I will write to you how to use the direct pronoun object in Spanish:
Possibly Spain, considering few European countries successfully conquered and then lost control of the colonies (This is more of a world history question so I wouldn't know, but I hope this is helpful ^^)