An explosion has occurred in Monaco: a Ukrainian family has been injured

Katerina Melnychenko
Katerina Melnychenko Deputy Editor-in-Chief
An explosion has occurred in Monaco: a Ukrainian family has been injured
Vadym Yermolaev is a businessman from Dnipro and one of the city’s largest property developers. He previously featured regularly on Forbes’ list of the 100 richest people in Ukraine
On the evening of 29 June, an explosion occurred near a residential building in Monaco, injuring three Ukrainians. According to media reports, the injured may include Ukrainian businessman Vadym Yermolayev and members of his family.

This has been reported by the media, citing the police and officials in Monaco.

The explosion took place on the evening of 29 June near the entrance to a residential building in Monaco, close to the border with France.

According to Reuters, police in Monaco and France are searching for a man suspected of involvement in the explosion. Following the incident, he is believed to have fled towards France.

The Guardian reports that the explosive device was likely concealed in a rucksack. CCTV footage shows a man leaving the rucksack near the building and walking away from the scene.

According to French and Ukrainian media reports, three members of a Ukrainian family were injured.

Two adults are in a critical condition. A 13-year-old child was also injured; their condition is described as serious but stable.

The Associated Press reports that the victims include a Ukrainian construction entrepreneur and members of his family. Some media outlets have identified him as Vadym Yermolaev.

However, the Monaco authorities have not officially released the names of those affected.

How the explosion is being classified

According to The Guardian, the explosion is being treated as a deliberate attack. The publication also reports that the device may have contained bolts and shot, which increased its destructive power.

Reuters, citing Monaco’s Minister of State Christophe Mirmann, reports that two of the victims sustained life-threatening injuries. Mirmann also stated that there had never been a similar incident in the principality before.

According to the AP, Prince Albert II of Monaco described the explosion as a “heinous act”. The investigation is being led by Monaco’s law enforcement agencies, with the involvement of French authorities.

What is known about Vadym Yermolaev

The Associated Press reports that Ukrainian and French media have named Vadym Yermolaev as one of the victims. He is known as a Ukrainian businessman with links to the construction sector.

The Kyiv Independent notes that it is unable to independently confirm these reports at the time of publication.

What is known about Vadym Yermolayev

Since 2017, Vadym Yermolayev has held only a Cypriot passport. The businessman explained this by his desire to have international protection and criticised the Ukrainian judicial and tax systems.

At the same time, Yermolaev has stated that he “really likes Ukraine” and that, during the war, he spends as much time in Ukraine as the law allows. Once the war is over, the businessman says he plans to develop his business in Ukraine.

Forbes noted that, under the publication’s rules, only Ukrainian citizens are included in the ranking of the richest Ukrainians; therefore, having lost his Ukrainian citizenship, Yermolayev cannot feature on this list.

Yermolayev was also featured in the ‘Ukrainska Pravda’ article ‘The Monaco Battalion’ about businessmen and public figures who were abroad during the full-scale war. Following the publication, the State Bureau of Investigation (DBR) opened an investigation into the border crossings of those named on the list.

In 2022, Russian troops destroyed a Gulfstream G150 aircraft, which is linked to Yermolayev’s company, during shelling of Dnipro airport. His company sought 259 million hryvnias in compensation from the Russian Federation in court.

Law enforcement agencies have not yet disclosed the motive behind the attack. Nor has it been officially confirmed whether the explosion was specifically targeted at this particular family.

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