A major manhunt is under way in southern France after a parcel bomb exploded inside a residential building in Monaco, critically injuring wealthy businessman Vadym Yermolaiev and his partner.
The explosion occurred shortly before 21:00 local time on Monday at an apartment building on Rue Révérend Père Louis Frolla, a street located close to Monaco’s border with France. Authorities later confirmed that the blast was caused by an explosive package left inside the building.
According to French media reports, Yermolaiev, his wife and their 13-year-old son were all wounded in the attack and transported to a hospital in Nice for treatment. Yermolaiev and his partner are said to be in critical condition.
Monaco’s government revealed that surveillance footage captured a suspect fleeing the scene on foot and heading toward the nearby French commune of Beausoleil. Interior officials believe the individual crossed into France shortly after the explosion, prompting an extensive cross-border search operation.
Monaco’s Minister of State, Christophe Mirmand, told French broadcaster BFM TV that investigators believe the suspect escaped into French territory. He also informed AFP that the explosive device appeared to contain bolts and metal pellets, indicating an intention to inflict maximum damage.
French newspaper Le Figaro reported that security cameras recorded a man placing a backpack in the lobby of the apartment building moments before the explosion occurred.
More than 100 police officers and emergency personnel were deployed to the scene as investigators began examining the blast site and searching for evidence.
Residents living nearby described scenes of panic after the explosion. Harri Richie, who lives approximately 100 metres from the building, said she heard an extremely loud blast while in her underground car park. She later saw emergency crews carrying two severely injured individuals from the damaged building.
She said emergency services arrived within minutes and that a helicopter remained over the area throughout the night as authorities searched for the suspect.
Calling the incident unprecedented, Christophe Mirmand said it was the first attack of its kind ever recorded in the principality.
Monaco’s ruler, Prince Albert II, condemned the bombing, describing it as a “heinous crime” and saying the attack had shocked the entire community. He added that all state agencies had been mobilised and were working closely with French authorities to identify and apprehend those responsible.
Vadym Yermolaiev, 58, is a prominent real estate developer originally from the Ukrainian city of Dnipro. He has lived in Monaco for several years and became a citizen of Cyprus after renouncing his Ukrainian nationality in 2019.
The businessman has extensive interests in the wine and alcohol industries in Crimea, the Ukrainian peninsula annexed by Russia. Since 2023, he has been under sanctions imposed by the Ukrainian government.
In 2020, Forbes ranked Yermolaiev as the 39th richest Ukrainian, estimating his fortune at around $230 million. Authorities have not yet announced a possible motive for the attack, and the investigation remains ongoing.
