Monaco Blast Injures Three Including Ukrainian Oligarch

Monaco experienced what officials are calling its first-ever terrorist attack after an explosive device detonated in a residential building, injuring three Ukrainian nationals including a prominent oligarch.

The bomb exploded shortly before 9 p.m. local time, shattering the peace of the wealthy city-state, according to Washington Examiner. Monaco’s Minister of State Christophe Mirmand stated the explosive was concealed in a backpack and likely contained bolts and other materials designed to function as an anti-personnel weapon.

The apparent target was Vadim Ermolaev, one of Ukraine’s wealthiest men. A woman in her 50s or 60s, identified as Ermolaev’s partner, and a 13-year-old boy were also wounded in the blast. While the boy sustained less serious injuries, Ermolaev and the woman remain in critical condition. Silvano Ippolito, a Monaco resident who witnessed the aftermath, told BFMTV that the woman had her feet blown off.

The incident has sent shockwaves through the principality, known for its tranquil and luxurious character. Washington Examiner reports that Mirmand confirmed this is likely the first terrorist attack in Monaco’s history.

Prince Albert II, head of Monaco, condemned what he called a criminal explosion and described it as a shock for the entire Monegasque community. He pledged that Monaco would remain united and determined in the face of violence and crime, emphasizing that community security has always been a priority and will remain so regardless of threats.

Security footage captured the suspected attacker fleeing the scene. Monaco authorities shut the city-state’s borders to facilitate a manhunt, and an investigation is currently underway. Beyond the three directly injured, four additional individuals were hospitalized due to shock from the experience, though they were not physically wounded by the explosion.

Ermolaev’s relationship with Ukraine’s government and nationalist circles has been turbulent and controversial. He conducted extensive business in Crimea before Russia’s annexation, and after the peninsula was seized, he had his companies re-register under Russian jurisdiction. This decision enraged Kyiv and resulted in sanctions against him. When Russia launched its full-scale invasion, Ermolaev fled Ukraine for Monaco.

Since relocating, he has waged an intense public relations battle. Ermolaev insists he fully supports Ukraine and has suffered his own losses from the invasion, including looted properties in occupied territories and the destruction of his private aircraft. He also claims to have donated substantially to Ukraine’s war effort.

Nevertheless, he faces accusations of collaborating with Russia and abandoning his patriotic obligations. The liberal Ukrainian outlet Ukrainska Pravda targeted him in an investigation titled “Battalion Monaco,” which criticized wealthy Ukrainians who escaped to luxurious lives in Monaco while their country was under siege. His connections to Russia and sanctioned Russian entities have fueled suspicions of collaboration with Moscow.

Ermolaev built his fortune in Dnipro, located in Dnipropetrovsk oblast in eastern Ukraine. The city has since become a crucial logistical hub for Ukraine’s war effort. Eastern Ukrainian elites are notorious for their divided loyalties between Russia and Ukraine. Elite defections played a significant role in the early success of the Donetsk and Lugansk separatist uprisings in 2014, while the steadfastness of others further west prevented the rebellions from spreading.

Ihor Kolomoisky, once Ukraine’s richest man, notably helped turn the tide of the 2014 Donbas conflict in Ukraine’s favor by financing Ukrainian nationalist battalions. Years later, however, he began expressing sympathy for pro-Russian positions and is now imprisoned.

With information from Washington Examiner