‘He isn’t political’: the Ukrainian-born oligarch targeted by a Monaco bomber

One person said of Vadym Iermolaiev that he was ‘nicer than 95% of people on that level … always smiling.’ Photograph: Twitter X View image in fullscreen One person said of Vadym Iermolaiev that he was ‘nicer than 95% of people on that level … always smiling.’ Photograph: Twitter X ‘He isn’t political’: the Ukrainian-born oligarch targeted by a Monaco bomber Questions remain as to why somebody would want to kill Vadym Iermolaiev, who has a personal fortune of $225m Monaco in shock after parcel bomb injures Ukrainian-born business leader Nobody paid much attention to the man with the backpack, as he approached the entrance to a beige-coloured Monaco apartment building. It was 9pm, Monday evening. The street – rue Révérend-Père-Louis-Frolla – is located in a quiet hillside part of the wealthy principality, close to the border with France. The man left his bag on the front steps. Soon afterwards, the Ukrainian-born oligarch Vadym Iermolaiev emerged, together with his wife and their 13-year-old child. There was an explosion and CCTV captured an image of the suspect, wearing a black jacket and a bucket hat, running from the scene towards the neighbouring French town of Beausoleil. All three victims were injured and taken to hospital. According to reports, the oligarch’s wife was critically hurt. As European police searched for the bomber, the unanswered question was why someone wanted to kill Iermolaiev, one of Ukraine’s richest businessmen, with a fortune estimated at $225m (£170m). Iermolaiev is a real estate developer who was born and raised in the Ukrainian city of Dnipro. His company, the Alef Group, also has interests in agriculture and vodka production. In 2018 the oligarch gave up his Ukrainian passport and acquired EU citizenship from Cyprus. As well as Monaco, he is a frequent visitor to London and Paris. In 2022, the newspaper Ukrainskaya Pravda identified the oligarch as a member of the “Monaco battalion”, an ironic reference to wealthy Ukrainians who live in comfort abroad while their fellow citizens experience daily Russian drone and missile attacks. Iermolaiev enjoyed the high life and drove a £250,000 Bentley Flying Spur, it noted. The following year, Ukraine imposed personal sanctions on Iermolaiev after an investigation by the country’s SBU security agency. It said the 58-year-old oligarch continued to trade alcohol in occupied Crimea and paid millions of dollars in taxes to the Russian treasury. His assets were frozen and he was prohibited from doing business. In an interview with Ukrainian media, Iermolaiev strongly denied the allegations, calling them “completely surreal”. He claimed Russia seized his grape growing and cognac enterprise in Crimea when it annexed the peninsula in 2014. “We lost everything,” he said, adding that he had hired a team of lawyers to get the sanctions against him lifted. The oligarch condemned Russia’s invasion and said a missile strike on Dnipro airport had destroyed his private plane. Chechen militants