Correos de Mexico issued a stamp to commemorate the 75th anniversary of Mexican oil expropriation. The Mexican oil expropriation was the expropriation of all oil reserves, facilities, and foreign oil companies in Mexico on March 18, 1938. It took place when President and General Lazaro Cardenas declared that all mineral and oil reserves found within Mexico belong to the nation.
It is one of the Fiestas Patrias of Mexico, celebrating the date when the President, General Lazaro Cardenas, declared that all oil reserves found in Mexican soil belonged to the nation, following the principle stated in the Article 27 of the Constitution of 1917. This measure caused an international boycott of Mexican products in the following years, especially by the United States, the United Kingdom and the Netherlands.