Ukrainian-born businessman targeted in Monaco explosion that injured three PHOTO/VIDEO

A Ukrainian-born businessman was reportedly the target of an explosion near a residential building in Monaco that left three people injured, including the businessman and his wife, as authorities investigate the incident as a possible terrorist attack.

The explosion occurred on June 29 after an unidentified individual allegedly left a backpack near the building before fleeing the scene, according to French broadcaster BFMTV. Two victims—a married couple in their 50s of Ukrainian origin—were critically injured, while a third victim, believed to be their 13-year-old son, was hospitalised with non-life-threatening injuries.

Ukrainian outlet Novini.LIVE, citing a source, reported that the intended target was Vadym Yermolaiev, a businessman originally from the Ukrainian city of Dnipro. French newspaper Le Figaro also reported that the critically injured man may be Yermolaiev.

Yermolaiev, who renounced his Ukrainian citizenship after obtaining Cypriot nationality in 2019, owns the Alef Group, a conglomerate with interests in real estate and agribusiness. He was previously ranked among Ukraine's 100 richest people.

Monaco's Minister of State, Christophe Mirmand, told AFP that the incident was likely a terrorist attack, adding that, to his knowledge, it was the first such attack in the history of the principality.

The suspect fled the scene before the explosion. Surveillance camera footage reportedly shows a man wearing beige trousers, a black jacket and a black hat partially covering his face running away from the area.

Authorities have not officially identified the victims or confirmed that Yermolaiev was the intended target. The investigation remains ongoing.

By Sabina Mammadli