Publication Details
Abstract
This article provides a comprehensive analysis of the position of the BRICS international association in the contemporary international relations system, its formation stages, and its international legal status. The study highlights the economic, demographic, and geopolitical potential of BRICS countries, their influence on the global governance system, and their role in shaping a multipolar world order. The author evaluates BRICS not as a traditional intergovernmental organization but as a quasi-organization effectively operating in international relations, emphasizing its “soft law” characteristics and the potential to develop certain “hard law” mechanisms (such as the New Development Bank and the Contingent Reserve Arrangement). Furthermore, the article analyzes the significance of declarations adopted within the framework of BRICS summits from the perspective of international financial law and global governance reform. The conclusions of the article reveal the role of BRICS as an influential institution representing the interests of developing countries in international law.