BRICS. Compliance Amid Global Governance System Crisis

Abstract

The paper assesses the effectiveness of BRICS as a global governance institution in the time of global social-economic crisis caused by the COVID-19 pandemic and escalation of political tensions in the first half of 2022. The main object of the study is the implementation of the decisions made at the BRICS summit in New Delhi in 2021. The goal of the study is to monitor and assess the BRICS compliance with the collective decisions made in the key areas such as security, macroeconomics, finance, international institutions’ reform agenda, etc. The research is relevant as it attempts to find an optimal strategy for preserving Russia’s position at the global fora in order to mitigate growing pressure over Russia’s economic and political system. The ongoing study will enable an objective assessment of the role BRICS plays in the context of realizing Russia's interests in key areas - macroeconomic policy, healthcare, energy sector, etc. The study is based on the methodology of comparative analysis of the effectiveness of international institutions, content analysis and criterial selection method. The authors conclude that in the crisis situation, BRICS has maintained adherence to the key decisions made in top-priority spheres and demonstrated high solidarity amid growing tensions between Russia and the Western countries, which signifies the value of the BRICS role in meeting Russia’s strategic priorities and keeping the country’s influence in the global politics

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