Ukrainian oligarch Vadim Ermolaev critically injured in Monaco bombing

Ukrainian oligarch Vadim Ermolaev critically injured in Monaco bombing

A "deliberate explosion" at a residential building in Monaco has left Ukrainian billionaire Vadim Ermolaev and his partner fighting for their lives, according to officials. The blast, which occurred around 9 p.m. On Monday, June 29, is described by the principality's government as an act without precedent in the history of the microstate.

The explosive device, identified by Prosecutor General Stéphane Thibault as a parcel bomb, was placed in the lobby of a building on Rue du Révérend Père Louis Frolla. Minister of State Christophe Mirmand told AFP that the device likely contained bolts and pellets or buckshot, materials designed to maximize injuries. The detonation ripped through the building in the luxurious La Rousse district, shattering windows and leaving a scene of chaos.

Ermolaev, 58, and his partner — described as being in their 50s and 60s — sustained life-threatening injuries. They were transported to the Pasteur Hospital in Nice, France. A 13-year-old boy, whom Mirmand stated was very likely related to the couple, was also injured but less seriously. Four other people were treated at Princess Grace Hospital for shock and cuts caused by flying glass.

CCTV footage captured a man wearing a black jumper and a black bucket hat dumping a backpack in the foyer of the apartment block before fleeing the scene on foot. Authorities have tracked the suspect via video surveillance from Monaco into the neighboring French town of Beausoleil. A manhunt is currently underway, with the Nice Anti-Crime Squad (BAC) and emergency units from Menton and Nice providing reinforcements to Monaco police.

Prince Albert II condemned the incident as a heinous act and a shock to the entire Monegasque community, stating that the principality remains determined in the face of crime. Eric Ciotti, the mayor of Nice, called the attack a tragedy for Monaco on X.

Ermolaev is a real estate mogul associated with the Alef Group, a conglomerate founded in 1997 with interests in agribusiness, manufacturing, and alcohol production. Forbes identifies him as the 23rd richest man in Ukraine, though public estimates of his wealth vary between $173 million and more than $800 million. He is known for developing projects in the city of Dnipro.

The billionaire's relationship with his home country has been strained. Ermolaev obtained Cypriot citizenship in 2019 and subsequently renounced his Ukrainian citizenship. He reportedly relocated to Monaco shortly after Russia's invasion of Ukraine. However, in December 2023, the national security and defence council of Ukraine imposed sanctions on him, including trading restrictions and asset freezes. Ukrainian security services reportedly linked these sanctions to his alcohol business activities in Russian-occupied Crimea.

Witnesses described the immediate aftermath of the blast. Marine Cotta told BFMTV that she initially thought a fireworks display was occurring before alarms and sirens filled the air. Another resident, Silvano Ippolito, reported seeing a woman slumped over and covered in blood on the stairs, alongside a bleeding child.

A heavy police presence remains at the site, where forensic officers worked into Monday night to collect evidence. The building's six other unoccupied flats have been secured. Minister of State Christophe Mirmand noted that intelligence services are currently investigating the background of the victims to determine if they had been facing specific threats.

The Public Prosecutor is expected to present the first findings of the investigation and announce the preliminary legal classification of the incident on Tuesday.