The FIA is "very happy" with the news Formula One will delay the introduction of new engine regulations until 2014.
With most of F1's existing engine makers and also Bernie Ecclestone opposed to president Jean Todt's plans for four-cylinder engines in 2013, the F1 Commission met in London on Wednesday.
The body unanimously approved a new turbo V6 formula for 2014, whose 1.6 litre engines should produce a better sound than the touted four-cylinder whilst retaining the crucial 'green' credentials through KERS.
The plan will soon be put to a vote of the World Motor Sport Council, an FIA spokesman told Kleine Zeitung newspaper.
"We are very happy with the solution," a spokesman for the Todt-led federation told Reuters.
Germany's Auto Motor und Sport said it believes Ferrari, who were staunchly opposed to Todt's original plan, as well as Renault who threatened to quit if the four-cylinder engines did not arrive, are also now happy.
Cosworth is reportedly also happy, given its better understanding of V6 technology versus the comparatively unfamiliar four-cylinder concept.