Explosion in Monaco Injures Three, Reportedly Targets Ukrainian Oligarch
Translated from German, summarized and contextualized by DistantNews.
At a glance
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- An explosion occurred at the entrance of a residential building in Monaco, injuring three people, including a 13-year-old.
- Media reports identify the primary target as Ukrainian oligarch Vadym Yermolayev, a wealthy businessman living in Monaco.
- Authorities are investigating the incident as an "intentional explosion," with initial reports suggesting a suspect placed a bag or package before fleeing.
An "intentional explosion" rocked Monaco Monday evening, injuring three individuals, including a woman and a 13-year-old boy, at the entrance of a residential building. Initial reports suggest the blast targeted Ukrainian businessman Vadym Yermolayev, 58, one of Ukraine's wealthiest entrepreneurs who resides in the principality.
This is, to my knowledge, the first time in history that such an act has been committed in the principality.
Yermolayev, originally from Dnipro, amassed a fortune estimated at $220 million before Russia's full-scale invasion, ranking him 45th on Forbes' 2021 list. His company, "Alef," is known for real estate development in Ukraine and also operates in sectors including malls, pipe manufacturing, dental implants, wine production, and exclusive apple cultivation. Yermolayev reportedly relinquished his Ukrainian citizenship around 2019, obtaining a Cypriot passport, citing issues with Ukraine's judicial system and a desire for "international protection."
Concerns have been raised regarding Yermolayev's business dealings, as he has been under sanctions from Kyiv since 2023. These sanctions reportedly stem from allegations that one of his companies paid taxes to Russian occupation authorities in Crimea. He has also been described in a "Ukrainska Prawda" video report as part of the "Monaco Battalion," a group of wealthy Ukrainians reportedly residing comfortably in the principality during wartime.
The thoughts are with the victims, their families and the Monegasque people.
Monaco's Minister of State, Christophe Mirmand, described the event as the first of its kind in the principality's history. He stressed the need for cooperation with intelligence services to identify the victims' associates and assess potential further threats. Emergency services responded swiftly, with dozens of firefighters and security personnel securing the scene and attending to the injured, who were transported to hospitals in Nice. The prosecutor's office indicated that a suspect deposited a bag or package in the building's lobby before the explosion and fled on foot.
deliberate explosion
DistantNews Editorial
Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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