The European parliament signed off Tuesday on new carbon dioxide restrictions for commercial vans to cut fuel costs and limit emissions blamed for global warming.

The parliament voted for new rules that will require automakers to limit CO2 emissions from new light commercial vehicles by 14 percent to an average 175 grammes per kilometre by 2017.

The legislation sets an emissions target of 147 grammes per kilometre by 2020, a 28 percent reduction from 2007 levels.

Manufacturers whose vehicles exceed the limits will be fined 95 euros per gramme from 2019.

European climate commissioner Connie Hedegaard said the legislation will "bring important fuel savings for van users" as well as "contribute to cleaner air and to achieve our climate targets."

Vans account for 12 percent of the European market for light-duty vehicles, which together are responsible for 1.5 percent of the total EU CO2 emissions, according to the commission.

The legislation, agreed by the parliament, governments and the European Commission, will become law after EU states formally approve the agreement within the next few weeks.