Currently, the protection of foreign investment in BRICS remains the responsibility of individual states. However, as KKMP Partner Stanislav Dobshevich notes, a concept for the BRICS+ Arbitration Mechanism (BRICSAM) was presented at the IX BRICS Legal Forum in 2024, envisioning the creation of a unified list of arbitrators from member countries to resolve disputes. The project is currently under discussion. The lack of a unified arbitration center for resolving disputes involving BRICS countries remains a problem that needs to be addressed.

From a practical perspective, before investing in BRICS countries, it is crucial to thoroughly examine existing BITs, considering their specific features and potential limitations on access to arbitration. Political risk insurance can serve as additional protection against adverse events.

Specifically, KKMP Partner Stanislav Dobshevich comments:

Investors can still insure against political risks. This instrument protects against unfavorable decisions by the government of the host country. This is particularly relevant when investing in countries with a high level of political and economic risk, including certain BRICS states.