The presented paper analyses documents and decisions of the BRIC and the BRICS summits and discusses positions of the participants on various aspects of international agenda. The BRICS counties ideological principles’ evolution is also demonstrated. The author explores the BRICS potential as an alternative forum for global regulation and comes to the conclusion that excessive expectations for BRICS «revolutionary» potential have not come to pass.

From its very inception the BRIC forum was perceived as an alternative to the current world order, especially in the midst of the global economic crisis, which raised concerns over the effectiveness and fairness of existing global economic regulation mechanisms. The BRICS countries, especially China, became the prominent examples of a different model of social and economic development, and were expected to come up with alternative ideas for the new economic order.

According to the author, the BRICS despite mixed perceptions in the western world, occupied the empty niche within the structure of global politics and assumed the character of a truly global forum after the admittance of South Africa, as it represents Eurasia, America and Africa.

The publication is prepared within the framework of a joint project of Russian International Affairs Council (RIAC) Project and International Organisations Research Institute of the HSE "Enhancing Effectiveness of Russia’s Participation in G8, G20 and BRICS in accordance with Russian Priorities and National Interests" in 2011.