ST. PETERSBURG, June 17. /TASS/. Ruling elites of Wester states dwell in illusions, clinging to the shadow of the past and denying the changing reality, Russian President Vladimir Putin said, speaking at the St. Petersburg International Economic Forum (SPIEF) Friday.

"Ruling elites of some Western states remain in this kind of illusions, they do not want to notice obvious things, tenaciously clinging to the shadows of the past," he said.

For example, the West believes that its dominance in global politics and economy is constant and eternal.

"Nothing is eternal," Putin underscored. "Our colleagues do not simply deny the reality, they seek to counter the progress of history, they think in last century categories, they are held hostage by their own delusions about countries beyond the so-called ‘golden billion,’ consider everything else a periphery, their backyard.".