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Manhunt launched after Monaco blast that media say targeted Ukrainian-born oligarch - Finance news and analysis from Global Banking & Finance Review
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Manhunt launched after Monaco blast that media say targeted Ukrainian-born oligarch

Published by Global Banking & Finance Review

Posted on June 30, 2026

3 min read

· Last updated: June 30, 2026

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Manhunt launched after Monaco blast targets Ukrainian-born oligarch

Explosion in Monaco and Ongoing Investigation

By Manon Cruz, Juliette Jabkhiro and John Irish

MONACO, June 30 (Reuters) - Police in Monaco and France were searching for a suspected bomber on Tuesday after three people were wounded by an explosion in the wealthy principality which two sources said was an attack on a Ukrainian-born oligarch.

The suspect is believed to have fled on foot to France, Monaco prosecutor Stephane Thibault said, after the attack on Monday evening involving a parcel bomb.

The principality, which is known for its casino and luxury yachts, its tight security and the luxury lifestyle of its super-rich residents, is surrounded by the Mediterranean on one side and France on the other, and there are no border checks between the two countries.

Victims of the Attack

Ukraine-born Tycoon and Family

A source familiar with the investigation said the man wounded in the attack was Ukrainian-born oligarch Vadym Yermolaiev and that the woman injured in the same attack, his partner, was badly wounded from the waist down.

A police source confirmed the injured couple were Yermolaiev and his partner, and the third person, who was less seriously injured, was his son.

Background on Vadym Yermolaiev

Yermolaiev was given Cypriot nationality in 2019 and was placed under Ukrainian sanctions in 2023, which Ukrainian media say was for doing business in Russian-occupied Crimea.

The Ukrainian embassy in Paris said it was checking the identity and nationality of those involved.

Thibault declined to confirm the identity of the victims, who have not yet been interviewed by police, but said the man wounded in the attack had lived since at least 2021 in Monaco.

All three were still in hospital, he said. The woman, whom he did not name, was in critical condition and the man's condition was no longer deemed critical, he said.

Manhunt and Security Response

Tracking the Suspect

The attacker left a parcel in front of a building shortly before the three people who live in the ground floor flat arrived, at which time the parcel exploded, Thibault told a press conference.

The attacker is suspected of attempted murder.

"In coordination with the French authorities, we are pursuing efforts to identify and apprehend him. I hope that will happen quickly, given the resources we are deploying," Thibault said.

Reactions and Related Incidents

Prince Albert of Monaco described the attack as "an odious act," which he said was a shock for all in Monaco.

In February, a person suspected of killing a former pro-Russian Ukrainian politician outside a school in a wealthy Madrid suburb in 2025 was arrested in Germany.

(Reporting by Juliette Jabkhiro, John Irish, Sudip Kar-Gupta and Dominique Vidalon in Paris, Manon Cruz in Monaco, Anna Pruchnicka in Kyiv; Writing by Ingrid Melander; Editing by Timothy Heritage)

Key Takeaways

  • Explosion occurred June 29 around 9 p.m. at a residential building in Monaco’s Rue Révérend Père Louis Frolla; device filled with bolts and shrapnel injured two adults critically and a 13‑year‑old less severely (aljazeera.com)
  • One of the critically injured is Vadym Yermolaiev, a former Ukrainian real estate magnate now Cypriot citizen, under Ukrainian sanctions since December 2023 over alleged business in Russian‑occupied Crimea (pravda.com.ua)
  • The suspect was seen on CCTV dropping a backpack in the lobby then fleeing on foot across the border into France (Beausoleil); Monaco and French authorities have launched a large‑scale search involving helicopters and 40 gendarmes (apnews.com)

References

Frequently Asked Questions

Who was reportedly the target of the Monaco bombing?
French and Ukrainian media reported that the target was Ukrainian-born oligarch Vadym Yermolaiev.
How many people were injured in the Monaco explosion?
Three people were wounded by the blast, with one woman most seriously hurt.
Where did the bombing suspect flee after the explosion in Monaco?
Authorities believe the suspect fled Monaco for neighboring France.
What type of device was used in the Monaco attack?
According to BFM TV, the attacker used a 'parcel bomb.'
What is Monaco’s response to the bombing incident?
Monaco is working closely with French authorities to track down the suspect and described the attack as an 'odious act.'

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