A huge bomb explosion in Monaco on Monday evening targeted Ukrainian Cypriot oligarch Vadym Yermolaiev, who is in critical condition. Yermolaiev’s child and his wife were also injured in the blast caused by a parcel bomb deposited in the lobby of the Yermolaievs’ residence.
Prince Albert II of Monaco described the bombing, the first of its kind in the principality, as a “heinous crime” and a “shock to the entire Monaco community.” “The principality of Monaco remains united and determined against violence and crime,” the monarch said.
Yermolaiev has been living in Monaco since 2021, having moved there from Dnipro, where made his fortune in real estate development. After moving to Monaco, he renounced his Ukrainian citizenship and acquired Cypriot citizenship instead. In 2020, Forbes reported that Yermolaiev was the 39th richest Ukrainian, with a fortune exceeding $230 million.
The National Security and Defense Council of Ukraine placed him on its sanctions list at the end of 2023. The primary reason for his blacklisting was that Yermolaiev continued his alcohol distribution operations in Russian-occupied Crimea.
Regarding the assassination attempt, Monaco’s chief prosecutor said the explosive device was hidden in a bag left at the entrance of the residential building where Yermolaiev and his family live. The parcel bomb apparently contained bolts and pellets. According to Stéphane Thibault, authorities are investigating the incident as an attempted murder, with no indication of a terrorist attack.
Local media reported that an eyewitness saw a person placing a backpack in the lobby. Security camera footage that has been made public shows a man wearing a dark cap carrying a white bag, who leaves the bag near the entrance and then runs away. Ukraine’s foreign ministry said its embassy in France was in touch with Monaco’s authorities and was working to officially identify those reported injured in the blast.
Authorities say the perpetrator fled to France, and according to the BBC, he is still on the run. A massive police manhunt is currently underway in Beausoleil, where the attacker headed after the incident.
