Three Ukrainian nationals, including businessman Vadim Ermolaev, were seriously injured after an explosive device detonated inside the entrance of a residential building in central Monaco on Monday night.
Authorities believe the blast was a deliberate attack and have launched an intensive investigation to identify the person responsible.
The explosion occurred shortly after 9 p.m. inside the foyer of the Sun’s Palace apartment building on Rue Révérend-Père-Louis-Frolla, sending emergency responders and police to the scene.
Authorities Investigate Suspected Targeted Attack
Officials said the improvised explosive device was packed with nuts, bolts, and other fragments designed to maximize injuries.
Monaco’s Minister of State, Christophe Mirmand, described the incident as a likely intentional attack, adding that investigators were gathering evidence to establish both the motive and those responsible.
According to authorities, surveillance footage reportedly shows a man leaving a backpack at the entrance to the building shortly before the explosion.
The suspect was described as wearing a black hat, a dark tracksuit top, white jeans, and trainers before fleeing the area. Police have since launched a manhunt.
Victims Believed to Be Members of the Same Family
Local officials confirmed that the three critically injured victims were all Ukrainian nationals and are believed to belong to the same family.
Among them is Vadim Ermolaev, a Ukrainian businessman identified by local media as one of Ukraine’s wealthiest entrepreneurs. A woman believed to be his wife also sustained severe injuries, while a 13-year-old boy was wounded in the blast.
The two adults were transported to Pasteur Hospital in Nice for specialist treatment, while the teenager received emergency medical care closer to the scene before further evaluation.
Witnesses Describe Chaotic Aftermath
Residents living near the apartment building described scenes of panic immediately after the explosion.
One witness reported seeing a woman covered in blood with devastating injuries, while another described the teenage victim lying on the ground as bystanders attempted to provide first aid.
Neighbor Marine Cotta said the blast initially sounded like fireworks before emergency sirens filled the neighborhood.
“I could hear the police, alarms and fire trucks, and that’s when I realized something serious had happened,” she said.
Officials Say Incident Is Unprecedented for Monaco
Christophe Mirmand said investigators currently believe the victims were standing inside the building’s entrance when the device exploded.
He noted that, to his knowledge, Monaco had never previously experienced an attack of this nature, describing it as an extraordinary incident for the Principality, which has long promoted its reputation as one of the world’s safest destinations.
Authorities also said additional people may have suffered less serious injuries, although officials have not released a final casualty count.
Vadim Ermolaev Built Fortune Before Leaving Ukraine
Ermolaev built his wealth through the Alef Group, a diversified business empire established after the collapse of the Soviet Union. His interests included real estate development in Dnipro as well as wine and spirits production in Crimea.
Following Russia’s full-scale invasion of Ukraine, he relocated with his family to the French Riviera. He obtained Cypriot citizenship in 2019, and Ukrainian authorities later imposed sanctions against him in 2023, including restrictions on his assets.
Over the years, Ermolaev has denied allegations linking him to financial crimes, including money laundering.
Family Lived Prominently on the French Riviera
The Ermolaev family has maintained a high public profile while living in Monte Carlo. The businessman became well known locally for driving a Ukrainian-registered Bentley, owning a luxury yacht flying the Ukrainian flag, and residing in a heavily secured villa in nearby Saint-Jean-Cap-Ferrat.
His wife, Anna Ermolaev, is known as a dentist and charity worker, and the couple have four children.
Investigation Continues as Security Questions Emerge
The bombing has drawn renewed attention to security in Monaco, a tax-friendly financial center that attracts billionaires, investors, and celebrities from around the world.
Although the principality enjoys one of Europe’s lowest crime rates, it has also faced scrutiny in recent years over allegations of money laundering and organized crime involving international networks.
Investigators are continuing to examine surveillance footage, forensic evidence, and witness statements as they work to determine whether the victims were specifically targeted and identify those behind the attack.
