Explosion in Monaco Injures Ukrainian Oligarch Vadim Yermolayev and Family in Suspected Assassination Attempt

Authorities in Monaco are investigating a powerful explosion that occurred Monday evening at the entrance of a luxury residential building near the French border. The blast, which took place shortly before 9 p.m. on Reverand Père Louis Perola Street, is suspected to be an assassination attempt targeting Ukrainian businessman and oligarch Vadim Yermolayev and his family. Yermolayev and his wife were seriously injured and remain in critical condition, while their 13-year-old son sustained moderate injuries. All three were evacuated to hospitals in France for treatment. A Russian citizen was also reported injured in the incident.

Security camera footage shows an unidentified individual placing a backpack near the building’s entrance shortly before the explosion and then fleeing on foot toward the neighboring French town of Beausoleil. Investigators believe the device detonated as the family was entering the building. Monaco’s Prime Minister Christophe Mirman stated that all investigative leads are being pursued and described the event as "likely a terrorist attack," noting it is the first of its kind in the principality’s history. Preliminary findings indicate the explosive device contained screws and metal fragments to maximize harm.

Vadim Yermolayev, originally from Dnipro, Ukraine, is the founder of the trading and manufacturing corporation "Alf" and was once ranked among Ukraine’s 100 richest by Forbes. He later renounced his Ukrainian citizenship and acquired Cypriot nationality. In late 2023, Ukrainian President Volodymyr Zelensky imposed a decade-long personal sanction on Yermolayev due to his business activities in Crimea, which allegedly involved paying taxes to the Russian administration, according to Ukrainian security services.