It is also planned that EHU could apply for a new license after reinforcing its academic and scientific potential.
"The university has been given until July 1, 2019 (...) to do the homework that has not been done. We are speaking about management, not only about the educational process," Skvernelis told reporters.
"I believe that the new management of the university will be able to correct mistakes and the university will be able to continue operating," he added.
EHU in late 2017 received a negative assessment from the Lithuanian Center for Quality Assessment in Higher Education, which said that this provided grounds for "revoking the authorization to deliver studies and carry out activities related to studies".
EHU's performance was evaluated last year because it received a negative assessment after an earlier review in 2014 and was only issued only a three-year accreditation.
EHU has said that it disagrees with the negative institutional evaluation results. In the university's opinion, reforms carried out between 2015 and 2017 helped it make "a substantial progress in fostering strategic management, studies and research".