Bomb blast wounds Ukrainian tycoon in Monaco, suspect flees to France

The explosion

A powerful blast ripped through the entrance of a residential building on Boulevard d'Italie in Monaco around 21:00 on Monday, 29 June. The device, left in a backpack by a man caught on surveillance cameras, contained bolts and buckshot that tore into the victims as they returned home. Witnesses described a chaotic scene, with multiple people struck down at the threshold.

“It was a war scene. A woman slumped over, covered in blood, missing a foot. A little boy was on the ground, bloodied.”

Victims and target

Two adults, a couple in their 50s or 60s, suffered life-threatening injuries. The man has been widely identified as Vadim Yermolaiev, a Ukrainian-born construction mogul and Monaco resident. His partner remains in critical condition. A 13-year-old boy, likely their son, was also injured but less severely. Four other people received treatment for shock and cuts from shattered glass.

Yermolaiev left Ukraine several years ago, renounced his citizenship, and became a Cypriot national. He was placed under Ukrainian sanctions in December 2023 for allegedly maintaining alcohol trade in Russian-occupied Crimea.

Hunt for the suspect

Surveillance footage showed a man in a black jacket, beige trousers, white shoes, and a black hat that partly hid his face. He deposited the backpack at the building's entrance and fled on foot toward the French municipality of Beausoleil. French and Monegasque police are cooperating to find him. As of Tuesday afternoon, he remained at large.

“At this stage, we are not qualifying this as a terrorist investigation. The inquiry is for attempted murder.”

A shaken principality

Monaco's authorities activated the 'red plan', a crisis protocol that scales resources with the number of casualties. Around 50 firefighters and 80 security personnel were deployed. Prince Albert II called the attack a heinous crime and a shock to the entire Monegasque community. Minister of State Christophe Mirmand noted it was the first such act in the history of the microstate.

“To my knowledge, this is the first time in history that such an act has taken place in the principality.”

Ukraine connection

Investigators are exploring possible links to Ukraine, where Yermolaiev had been a major real estate developer in Dnipro before leaving the country. Security sources told Le Figaro that the attack showed signs of a methodical preparation carrying a Kyiv signature, though officials have not confirmed a motive. Ukraine's foreign ministry said it was in contact with Monegasque authorities and checking the citizenship status of the three injured family members.