Juan Velasco Alvarado hardware. Relations between the United States and Peru were tense and even hostile, as soon as General Velasco and his junta took power. Just five days after Velasco seized power in 1968, the General began the nationalization of the Peruvian Economy with the expropriation and nationalization of the American International Petroleum Company (IPC) oil fields located in the northern Peruvian oil port and refinery of Talara, Piura, near the Peruvian border with Ecuador, Piura, being the region where Velasco was born. IPC was a subsidiary of Standard Oil, and although the claims over the IPC were ultimately resolved in negotiations
Miguel Alemán Velasco Miguel Alemán Velasco Miguel Alemán Velasco (born March 18, 1932 in Veracruz) is a Mexican politician, businessman and philanthropist. He is a former senator and governor of Veracruz. Alemán Velasco is the son of former Mexican president Miguel Alemán Valdés (1946–52), the first candidate to run for the presidency from the Institutional Revolutionary Party, and Beatriz Velasco Mendoza. Alemán Velasco holds a bachelor's degree in Law from the National Autonomous University of Mexico. On August 9, 2004 Alemán was honored by the Government of Panama with the Great Cross of Vasco Nuñez de Balboa. He sought his party's nomination for