Bomb Attack in Monaco... Suspected to Have Targeted Pro-Russian Ukrainian Millionaire

[Financial News] An unidentified explosive attack, believed to have targeted a Ukrainian oligarch, has occurred in Monaco, a resort city for the world’s wealthy and a place known for its strong public safety.
France 24 reported on the 29th local time that a powerful explosion ripped through a luxury residential building in Monaco, near the French border, seriously injuring three people, including Ukrainian millionaire Vadim Yermolaev.
Christophe Mirmand, Monaco Minister of State, described the incident as "a carefully planned, deliberate explosion" and said, "As far as I know, this is the first time such a horrific event has occurred in Monaco's history." Albert II, Prince of Monaco, also called it "an atrocious crime" and said that "the entire Monaco community has been deeply shocked."
According to Stephen Thibault, Monaco's public prosecutor, a leading suspect was seen leaving the scene after placing what appeared to be a bag in the building lobby shortly before the blast. The device was reportedly packed with bolts and pellets to maximize its lethality.
The explosion left a man and woman in their 50s or 60s critically injured, and a 13-year-old believed to be their relative was also hurt and taken to hospital. Investigators did not identify the victims by name, but sources confirmed that one of the injured was Yermolaev, a Ukrainian tycoon living in Monaco. Four other residents nearby suffered cuts from the blast and shattered glass and received treatment.
An aide to France's Minister of the Interior said police and helicopters are currently being used to track down the fugitive suspect. The scene was immediately sealed off with barricades, and tight security remains in place.
Authorities have not yet disclosed an official motive, but local media and experts are focusing on Yermolaev's background.
Yermolaev, a multimillionaire who has lived in Monaco, was placed on Ukraine's financial sanctions list in December 2023. The Security Service of Ukraine (SBU) imposed the sanctions on allegations that he continued his liquor business in Russia-occupied parts of the Crimean Peninsula and helped finance the Russian side.
As a result, some are cautiously raising the possibility that the attack may have been a politically motivated act of retaliation linked to the war in Ukraine and aimed at a pro-Russian tycoon. 
[email protected] Yoon Jae-joon Reporter