They've agreed to work towards completing as many races this season as possible, too.
The decision means teams will race in 2020 and 2021 under the existing rules, which will deliver a major cost saving at a time when all are likely to suffer a drop in income, which primarily comes from race-hosting fees and broadcast rights.
And it was agreed that teams will use their 2020 chassis, the survival cell in which the driver sits, again in 2021.