There are several upsides to this move, the first is it potentially opens up the usual four-week break in August to add at least one of the events lost at the start of this season.
But F1, which controls the calendar, said in its statement that both organisations "expect to begin the championship in Europe at the end of May, but given the sharp increase in COVID-19 cases in Europe in recent days, this will be regularly reviewed".
Formula One's August shutdown will be brought forward and extended to a mandatory 21 successive days in March and April as a result of the coronavirus outbreak, the governing body FIA said on Wednesday.
F1 teams are keen to keep costs under control at a time when they are facing reduced revenues due to the projected reduction in the number of races taking places this year.
Monaco is likely to be cancelled if not held in late May, due to the logistical challenges of organising the race in the Mediterranean principality, but the Dutch round - a home race for Red Bull's Max Verstappen - could switch to August.
"Whilst we would all love to return to racing, the severity of this global pandemic is changing by the hour and the impact transcends our sport".
Meanwhile, Jakarta's Formula E race in Indonesia, scheduled for June 6, was postponed due to the coronavirus.
"Formula 1 and the FIA will now work to finalise a revised 2020 calendar and will consult with the teams, but as agreed at the meeting the revised calendar will not require their formal approval".
"The Board of Directors wishes to express its honest regrets that these two events [the Grand Prix and the historic Grand Prix] can not be postponed and under no circumstances, will it be possible to organize these events later this year".
The announcement follows a crunch conference call involving FIA president Jean Todt, F1 bosses Chase Carey and Ross Brawn and the 10 team principals on Thursday.
In the wake of a McLaren staff participant being verified as having actually acquired the infection, the clothing took out from the season-opening grand prix in Melbourne last weekend break.