A massive bomb blast has rocked Monaco, leaving a Ukrainian billionaire oligarch and his wife fighting for their lives.
Vadim Ermolaev, 58, is a real estate mogul who was ranked by Forbes as the 23rd richest man in Ukraine before renouncing his Ukrainian citizenship in favour of Cypriot nationality. He is understood to have relocated to Monaco following Russia’s full-scale invasion of Ukraine and has since been subject to Ukrainian sanctions.
A suspect is on the run after being seen on CCTV dumping a backpack at the entrance to a residence on Rue du Révérend Père Louis Frolla at around 8pm BST yesterday. Monaco’s Minister of State Christophe Mirmand called the incident a “deliberate explosion”.
The explosive device, described as a “parcel bomb”, likely contained bolts and shot, officials said. A 13-year-old boy was also injured in the blast, though not as seriously.
The suspect fled on foot towards the French town of Beausoleil. A Brit resident of Monaco who lives nearby told the Mirror: “We heard a big commotion outside, and then there was a procession of police cars heading off.”
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Monaco’s Minister of State (head of government) Christophe Mirmand told a press conference late last night that intelligences services are working to understand the victims’ background and “determine if others might be facing specific threats”.
Monaco is the world’s second-smallest independent state with a multinational population of around 38,000. Only a fifth of Monaco’s population are actually citizens of the principality.
Monaco is known as a playground for tourists and a haven for the wealthy, with visitors drawn by its French Riviera setting and Mediterranean climate, and high-net-worth residents by its favourable tax regime.
One of Monaco’s key attractions is its tax-free status, with residents (excluding French nationals) paying no personal income, capital gains, wealth or property taxes. Inheritances and gifts transferred between parents and spouses are also generally tax-free.
Eliana NunesToday09:27 BST
A bomb disposal team works at the scene the morning after the explosion in Monaco(Image: AFP via Getty Images)
One of the residential building’s windows is shattered(Image: AFP via Getty Images)
Ukrainian construction tycoon Vadim Ermolaev, 58, is reported by French and Ukrainian media to be among the three victims of the explosion. Authorities in Monaco have yet to confirm their identities and are expected to hold a press conference later today.
Ermolaev obtained Cypriot nationality in 2019 and renounced his Ukrainian citizenship, moving to Monaco shortly after Russia’s full-scale invasion of Ukraine in 2022, a source close to the investigation told French newspaper Le Figaro.
The oligarch has been subject to Ukrainian sanctions since December 2023, which the country’s security services reportedly said stemmed from his alcohol business activity in Russian-occupied Crimea.
Ermolaev is understood to have built his wealth in real estate, founding Alef Estate in 2001, a development company that constructed several major buildings in Ukraine’s Dnipro, including “New Centre”, the city’s first major shopping centre.
Vadim Ermolaev
Silvano Ippolito, a nearby resident, told French broadcaster BFM TV that he initially thought the explosion was a gas leak.
He said he then saw “a woman slumped over and covered in blood” on the building’s stairs, adding that she was “missing her feet”.
Mr Ippolito said he also saw “a little boy who was bleeding on the ground, with a person who was trying to help him”.
Eliana NunesToday08:50 BST
The public prosecutor of Monaco, Stephane Thibault, told France Télévisions last night that a terror motive has been ruled out.
“The exact legal classification will be determined by the public prosecutor” at a later stage, Monaco’s Minister of State Christophe Mirmand said during last night’s press conference.
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The manhunt is ongoing for the suspect, who is believed to have fled across the border into France.
An aide to French Interior Minister Laurent Nuñez has said police are working “to find the perpetrator, who has fled”.
The Monaco government wrote on X that the suspect was seen on CCTV footage fleeing towards the municipality of Beausoleil in France.
The suspect is believed to have fled to France(Image: CCTV)
Around 50 firefighters – 40 from Monaco and 10 from France – and 12 fire engines were deployed last night following the explosion, alongside 84 police officers. The six unoccupied apartments in the targeted building were secured as a precaution, the Monaco Government said.
Fifty firefighters were dispatched to the scene after an explosion in Monaco(Image: AFP via Getty Images)
Monaco’s leader, Albert II, Prince of Monaco, called the explosion “an odious act” and said all relevant state services had been mobilised and were working closely with the French authorities.
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The Monaco government has shared an update on X on the progress of the investigation.
Forensic officers worked into the night on Monday collecting evidence at the scene.
A press conference was held that evening by Minister of State Christophe Mirmand, alongside Interior Minister Lionel Beffre and President of the National Council Thomas Brezzo.
The Public Prosecutor is expected to present the first findings of the investigation today and announce the preliminary legal classification of the incident.
Eliana NunesToday07:21 BST
- A makeshift bomb exploded at the entrance of a residence near central Monaco yesterday night, injuring three people – two adults and a child
- The blast happened shortly before 9pm CEST (8pm BST)
- The victims were taken to hospitals in neighbouring France, where the two adults aged in their 50s or 60s are being treated for life-threatening injuries, Minister of State of Monaco Christophe Mirmand has said
- The child, a 13-year-old boy, suffered less serious injuries in the explosion, Mirmand said, adding that he is “very likely related” to the adults
- One of the victims has been identified by French broadcaster BFM TV and Ukrainian news outlet Ukrainska Pravda as Ukrainian construction tycoon Vadim Ermolaev, while the other adult is understood to be his wife
- Ermolaev was targeted by Ukrainian sanctions in 2023 for his ties to Russia
- CCTV footage showed a man dropping a backpack at the entrance of a residential building shortly before the blast
- The principality’s prosecutor general described the explosive device as a “parcel bomb”
- The suspect crossed the border into France on foot and was identified via video surveillance in Monaco and the neighbouring French town of Beausoleil, Mirmand said
- A French national police official said French police are searching for the suspect and supporting the investigation
Emergency services near the scene of an explosion at a residential building in Monaco(Image: AFP via Getty Images)
A heavy police presence was at the scene of the incident in Monaco.
Police vehicles and cordons can be seen.
A helicopter was also spotted circling in the area as a manhunt is underway for the suspect.
Monaco police officers patrol near the site of an explosion in a residential building in Monaco, near the French border(Image: AFP via Getty Images)
French rescue teams are on site providing reinforcements and police cooperation has been established to find the suspect, local media reported the Minister of the Interior as saying.
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Minister of State Christophe Mirmand told BFM TV that “four people were taken” to the hospital.
The four people were “not injured but simply shaken” by the explosion.
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One of the victims is reported to be Vadim Ermolaev’s partner, BFM TV reports.
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Ermolaev has been subject to sanction from Kyiv since December 2023.
Ukrainian security services reportedly said the sanctions stemmed from his alcohol business activity in Russian-occupied Crimea.
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The suspect crossed the border into France on foot and was identified via video surveillance in Monaco and the neighbouring French town of Beausoleil, said Monaco’s Minister of State (head of government), Christophe Mirmand.
A significant police presence has been deployed in the area following the incident, as authorities launch a manhunt for the suspect.
Read more here.
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CCTV footage shows a man dressed in a black bucket hat and jumper dumping a backpack in the foyer of an apartment block before vacating the scene hastily.
CCTV footage shows suspect flee by foot after horror attack in Monaco(Image: CCTV)
The two adults injured in the explosion, including Vadim Ermolaev, were taken to the Pasteur Hospital in Nice.
The younger victim was reportedly treated at the scene.
Tannur AndersToday02:15 BST
Ukrainian-born businessman Vadim Ermolaev, who is reportedly among those fighting for his life after the suspected bomb explosion, is one of the wealthiest oligarch figures to emerge from the country’s industrial sector.
Ermolaev is described in public sources as a Cypriot-based businessman of Ukrainian origin. He is a real estate developer, best known for his role in developing projects in the city of Dnipro.
He is associated with the Alef Group, a commercial and industrial conglomerate founded in 1997, with interests spanning real estate, manufacturing, agribusiness, alcohol production and trade.
Public estimates of his wealth have varied widely over time, with figures ranging from around $173 million to more than $800 million.
According to publicly available reports, Ermolaev obtained Cypriot citizenship in 2019 and later renounced his Ukrainian citizenship.
He is under sanctions in Ukraine.
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A local has explained how she thought a fireworks display was going off at the time of the attack.
Marine Cotta told BFM TV: “I thought to myself, ‘Oh, it’s just another firework’, and shortly after I started receiving messages to see how I was doing.”
She said she found out about the incident on social media.
Marine added: “I could hear the police, the alarms, the firefighters and then I thought, ‘Okay, something’s happening.'”
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A large emergency response presence remains in place after the explosion.
A cordon is in place and police are working to locate the suspect.
Fifty firefighters were dispatched to the scene after an explosion in Monaco(Image: AFP via Getty Images)
The explosive device has been described as a “parcel bomb” by the principality’s prosecutor general.
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Vadim Ermolaev is under sanctions in Ukraine.
Tannur Anders29th Jun23:47 BST
One of the victims of an explosion in Monaco is as a billionaire Ukrainian oligarch, according to local reports.
Three people – all believed to be Ukrainian – have been injured in the explosion shortly after 9pm on Monday, June 29 on Rue du Révérend Père Louis Frolla.
One victim was named locally by Monaco Matin news outlet as Vadim Ermolaev, one of Ukraine’s wealthiest men. It is understood that he fled the country after the latest bout of conflict with Russia.
Read the full story here.
Tannur Anders29th Jun23:37 BST
Two of the victims have suffered life-threatening injuries, Minister of State of Monaco Christophe Mirmand has said.
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The blast occurred shortly before 9pm.
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The suspect remains at large following the explosion in Monaco but he has been tracked using security cameras making his way through Monaco and to Beausoleil.
Police officers from the Nice Anti-Crime Squad (BAC), as well as emergency response units from Nice and Menton, have been sent to reinforce the Beausoleil area.
A police cordon in place following the explosion(Image: AFP via Getty Images)
Monaco’s Minister of State Christophe Mirmand told AFP that the explosive device is believed to have contained “bolts and shot” which would have been designed to cause maximum injuries.
“The explosive device likely contained bolts and pellets,” he said. “The police are currently gathering evidence.”
The incident happened outside a residential property(Image: X)
French rescue teams are helping Monaco emergency services following the explosion.
“Following the explosion this evening in Monaco, French rescue teams are on site to reinforce the operation and police cooperation has been put in place to find the perpetrator who fled,” a source close to Interior Minister Laurent Nunez said, reported TF1.
Emergency services at the scene(Image: X)