"Everyone looks forward to welcoming Alex and supporting him during the next phase of his F1 career".
The youngster had been driving for Red Bull's junior team Toro Rosso but a poor performance from Red Bull's second driver, Pierre Gasly, in the first half of the season has meant the Mr Albon has been given a call up to the top team.
Red Bull performed a similar switch of drivers in 2016, with Verstappen handed his opportunity when Daniil Kvyat was sent back to Toro Rosso four races into the season.
Red Bull have yet to confirm who will fill the seat full time in 2020, declaring in a statement that Albon would only be taking over from Gasly for the remainder of the 2019 season.
Albon was then recruited by Nissan's Formula E squad and setting his sights on racing alongside Sebastien Buemi in the electric series when Red Bull offered him a seat at Toro Rosso, which he accepted after extracting himself from a binding contract with Nissan.
On Monday, Red Bull made the headlines when they announced that Alex Albon would join Max Verstappen in Belgium. The Frenchman has yet to appear on the podium in a vehicle that has taken Verstappen to two race wins and three further top-three finishes, and has been out-qualified by his team mate in every race so far.
Iran says US-led maritime coalition to bring insecurity to Gulf
The warning was delivered in a statement that also cited an advisory from the Transportation Department's Maritime Administration. P&O Cruises has cancelled cruises around Dubai and the Arabian Gulf after Iran seized a British-flagged tanker in the region.
Having slightly improved on last seasons' tally at this point in the season, the team will no doubt be satisfied with the state of the auto which has proven to be neck and neck with Ferrari and seemingly the closest challenger to the Mercedes.
The Belgian Grand Prix at the Spa-Francorchamps circuit is on September 1 and is the first race after Formula One's August break.
The 23-year-old - born in England of a Thai mother - is promoted from Red Bull's sister team Toro Rosso whilst Frenchman Pierre Gasly will go in the opposite direction. He impressed in races in China, Monaco and Germany.
"We desperately need him realising more of the potential of the auto".
On Instagram, Alex Albon wrote, "Surreal to have been given this massive opportunity with Red Bull Racing!".