A massive bomb blast in Monaco has left Ukrainian billionaire oligarch Vadim Ermolaev and his wife fighting for their lives. The explosion, which occurred shortly before 9pm CEST on June 29, 2026, in the La Rousse district, also injured a 13-year-old boy. A suspect is on the run after being captured on CCTV dumping a backpack at the entrance of a residential building on Rue du Révérend Père Louis Frolla.
Victims and Injuries
Vadim Ermolaev, 58, a real estate mogul and the 23rd richest man in Ukraine according to Forbes, and his partner, both in their 50s and 60s, are in critical condition. They were taken to Pasteur Hospital in Nice. The 13-year-old boy, believed to be connected to the couple, was treated at the scene with less serious injuries. Monaco's Minister of State Christophe Mirmand confirmed that two victims suffered life-threatening injuries, while four people were taken to hospital but only shaken, not injured.
The Explosive Device
Monaco's prosecutor general described the device as a "parcel bomb." Mirmand told AFP that the explosive device likely contained bolts and shot, designed to cause maximum injuries. The police are gathering evidence, and bomb disposal experts are on site.
Suspect on the Run
CCTV footage shows a man in a black bucket hat and jumper dropping a backpack in the foyer of an apartment block before fleeing hastily. The suspect crossed the border on foot into the French town of Beausoleil, identified via video surveillance in Monaco and France. A British resident of Monaco told The Mirror: "The road where the explosion happened is about 20 minutes away from where we are and he has gone to the neighbouring town of Beausoleil which is just over the border into France basically. So I imagine he has just disappeared into France." Police from the Nice Anti-Crime Squad and emergency response units have reinforced the area.
Official Response
Mirmand called the incident a "deliberate explosion" and said, "This is the first time in history, to my knowledge, that such an act has occurred in the Principality." The "red plan" was activated, a pre-established strategy for sudden events resulting in numerous casualties. French rescue teams are providing reinforcements, and police cooperation is established to find the perpetrator. Charles Ange Ginésy, President of the Alpes-Maritimes Council, expressed "deep solidarity with the victims, their families, and the people of Monaco."
Background on Vadim Ermolaev
Ermolaev is a Cypriot-based businessman of Ukrainian origin, best known for real estate development in Dnipro. He is associated with the Alef Group, a conglomerate founded in 1997 with interests in real estate, manufacturing, agribusiness, alcohol production, and trade. Public estimates of his wealth range from $173 million to over $800 million. He obtained Cypriot citizenship in 2019 and later renounced his Ukrainian citizenship. He has been under sanctions from Kyiv since December 2023, reportedly stemming from his alcohol business activity in Russian-occupied Crimea.
