Bomb attack in Monaco targets Ukrainian oligarch Vadim Ermolaev, three injured in first such blast

Just after 21:00 local time on Monday, 29 June, a device contained in a backpack or bag exploded at the entrance of the "Sun's Palace" apartment building near Rue Révérend-Père-Louis-Frolla, close to Monaco's Mediterranean coast. The blast scattered shrapnel including nuts, bolts, and screws, which officials said was intended to maximise casualties. Security camera footage showed a man leaving the bag in the foyer moments earlier and then fleeing on foot.

Victims

The explosion left a couple in critical condition and a 13-year-old boy seriously injured. The adults, aged between 50 and 60, were transferred to the Pasteur hospital in Nice, France, while the teenager received first aid near the site. Although Monegasque authorities did not officially release names, an AFP source confirmed earlier reports from BFMTV that the couple are Ukrainian oligarch Vadim Ermolaev and his partner. The boy was described by Minister of Interior Christophe Mirmand as "very likely having a family relationship with the couple".

Target profile

Vadim Ermolaev, ranked as Ukraine's 23rd wealthiest individual, is the founder of the Alef Group, a trade and industrial conglomerate active in real estate, alcohol production, and agriculture. He has lived in Monaco and also reportedly held Cypriot citizenship. In December 2023, Ukraine's National Security and Defence Council imposed 10-year sanctions on him, endorsed by President Volodymyr Zelensky, over allegations that his businesses continued operating in Russian-annexed Crimea after 2014, specifically through alcohol sales. Ermolaev has publicly denied the accusations. In December 2025, his son Artur was arrested by Interpol in Cyprus but later released from an Estonian prison on bail.

Investigation and manhunt

Monaco's Prosecutor General Stéphane Trimbo said the device was planted in a bag or package left in the building's entrance, and the suspect fled immediately. Police launched a large-scale manhunt and released a description: a man wearing a black hat, sports jacket, white jeans, and trainers. Investigators are examining footage that suggests the perpetrator may have escaped toward the French town of Beausoleil, only 2–5 km away. Government spokesman Lionel Beffre said they are checking for possible additional injuries. Mirmand called the attack "most likely deliberate", noting the shrapnel inside the device.

Reactions

Prince Albert II condemned the "heinous crime" in a statement, saying it was "a shock for the entire Monegasque community" and vowing that the principality would remain "united and determined in the face of violence and crime."

“As far as I know, it is the first time in history that such an act has taken place in the principality.”

Monaco, a tax haven on the French Riviera with extremely low crime rates, is now grappling with an incident that shatters its reputation for safety.