The US Embassy in Venezuela (Photo: Reuters)

US officials said reopening the embassy will boost the US’s diplomatic presence, support American citizens, and help to stabilize Venezuela’s economy.

Earlier, the US and Venezuela's interim authorities agreed to re-establish diplomatic and consular relations in the interest of stability, economic recovery, and political reconciliation.

In January, the US captured Venezuela's President Nicolas Maduro in a military operation. Maduro was then taken to the US to face drug trafficking charges. Since then, the US has increased investments in the Venezuelan oil sector and begun lifting sanctions against Venezuela.