A suspected bombing in Monaco on Monday night has left Ukrainian businessman Vadim Yermolayev, his wife, and their 13-year-old son injured, with authorities investigating the incident as a potential targeted attack.

On Monday evening at approximately 9 PM, a powerful explosion occurred at the entrance of a residential building in Monaco, near the French border. The blast severely injured Ukrainian businessman Vadim Yermolayev, his wife, and their 13-year-old son. According to local police, the parents are in critical condition, while the child sustained minor injuries. Several bystanders also suffered shock and were transported to nearby hospitals for treatment. Images from the scene show extensive damage, including a destroyed door, bent railings, and a blood-stained staircase. A video purportedly from the site captured flames engulfing the street.

Monaco’s Prime Minister Christophe Mirmand described the incident as likely being a deliberate attack, marking the first of its kind in the principality’s history. The Monaco prosecutor’s office revealed that witnesses saw an individual leaving a bag or package at the building’s entrance before fleeing the scene. The explosive device reportedly contained bolts and metal fragments, designed to maximize harm. Authorities have launched a large-scale manhunt involving 40 gendarmes and two helicopters to locate the suspect. Social media images show a man in light-colored trousers, a black jacket, and a dark fishing hat allegedly fleeing the area.

Vadim Yermolayev, 58, is a prominent Ukrainian entrepreneur from Dnipro and one of the country’s wealthiest individuals. He made his fortune in real estate development, agriculture, medicine, and construction materials. In 2019, he renounced his Ukrainian citizenship and obtained a Cypriot passport. In 2023, Ukrainian President Volodymyr Zelensky imposed sanctions on Yermolayev for continuing business operations in Crimea after its annexation by Russia in 2014. His assets were frozen, and he was banned from financial activities in Ukraine for a decade. Monaco and the French Riviera have become a haven for affluent Ukrainian families since Russia’s invasion of Ukraine in 2022, with Yermolayev reportedly among those living in the region.