Explosion in Monaco: Ukrainian oligarch injured in attack

On June 29, an explosion occurred in the lobby of a residential building in Monaco aimed at Ukrainian businessman Vadim Ermaloev, a member of the so-called “Monaco Battalion” - a group of oligarchs who left Ukraine after the start of the war.

 

Incident in the centre of Monaco

An explosive device detonated in the lobby of an elite residential building in Monaco on the evening of June 29. Ukrainian businessman Vadim Ermaloev, his companion, and son were injured. All are hospitalized with serious injuries. The police are considering the version of a targeted assassination.

“Monaco Battalion”: who is involved

This is the unofficial name of a group of approximately 100 Ukrainian oligarchs and high-ranking officials who moved to the French Riviera after the start of the war. Among them are:

• Owners of football clubs
• Major entrepreneurs
• Former members of parliament Many individuals on the list are accused by Ukraine of evading mobilisation and illegally exporting capital.

Connection to real estate in Monaco

The “Monaco Battalion” got its name after reports of Ukrainians buying elite real estate. For example, the world’s most expensive apartment for €471 million in Mareterra belongs to a Ukrainian billionaire. Ermaloev was seen driving a Bentley near the Monte Carlo Casino.

Position of the Ukrainian authorities

Head of the Security Service of Ukraine Vasiliy Maliuk stated: “We are working on every case of illegal emigration and money laundering abroad.” In December 2023, sanctions were imposed against Ermaloev for “financial violations and evasion of civil obligations”.