Ukrainian billionaire Vadim Ermolaev critically injured in Monaco explosion

A powerful explosion in Monaco on Monday evening seriously injured Ukrainian billionaire Vadim Ermolaev and two family members.

The blast occurred around 9pm local time outside a luxury residential building. Ermolaev, 58, his partner, and their 13-year-old son were injured. The two adults are in critical, life-threatening condition, while the teenager is reported to be stable.

A suspect reportedly left a backpack or parcel containing an explosive device before fleeing the scene. Police in Monaco and neighbouring France have launched a manhunt.

Ermolaev, a real estate developer and one of Ukraine’s wealthiest businessmen, has faced sanctions from Kyiv over alleged ties to Russia, which he denies. He has lived in the Monaco area since fleeing Ukraine following the 2022 invasion.

The incident is being treated as a deliberate attack.