Monaco, a principality known for its exclusivity and low taxes, has become a haven for wealthy Ukrainian expatriates, with an assassination attempt on oligarch Vadym Ermolaev shedding light on this group, referred to by Ukrainian intelligence as the 'Monaco Battalion.' Ermolaev was injured, and his mistress critically wounded, in a bombing outside their luxury apartment building in Monaco.
The attack, which occurred Monday evening, saw a suspect detonate an explosive device placed in a backpack near the couple. Anastasiia Berezovska, a 39-year-old Ukrainian national, is the prime suspect and is considered armed and dangerous. Interpol has issued a Red Notice for her arrest. Investigators are exploring various motives, including potential involvement of Ukrainian secret services, retribution for alleged fraud schemes, or gang-related disputes. The bombing has prompted a manhunt involving Monegasque and French authorities.
Ermolaev, a Ukrainian tycoon with a fortune estimated in the hundreds of millions, has faced accusations of corruption and money laundering, which he denies. He renounced his Ukrainian citizenship in 2019 and obtained a Cypriot passport. The attack occurred at his Monaco residence, reportedly a love nest for him and his mistress.
This incident underscores the presence of approximately 84 Ukrainian oligarchs who have relocated to the South of France and Monaco since Russia's full-scale invasion of Ukraine in February 2022. Many of these individuals, including businessmen, diplomats, and former politicians, have fled conscription and the ongoing conflict, establishing residences in exclusive areas like Saint-Jean-Cap-Ferrat, known as the 'Billionaire's Peninsula.'
Notable figures among this group include Rinat Akhmetov, Ukraine's wealthiest man, who owns significant property in Monaco and Saint-Jean; Kostyantyn Zhevago, an iron ore magnate wanted in Ukraine, who resides between Dubai and France; and the Surkis brothers, Ihor and Hryhoriy, prominent in Ukrainian football, who reportedly established a base in Monaco.
Other high-profile individuals reportedly living in the area include Igor Abramovych, Yuriy Ivanyushchenko, Yulia Lyovochkina, and Viktor Pintchouk. These individuals, while enjoying the amenities of the French Riviera, live in stark contrast to the ongoing war in their home country. Ukrainian President Volodymyr Zelenskyy had previously called for all able-bodied men to fight, leading to the departure of many wealthy citizens.
While Monaco and the surrounding French Riviera are known for their security and luxury, the attack on Ermolaev has exposed a murkier side, involving alleged white-collar crime, corruption, and evasion of justice. Local residents in Monaco and Saint-Jean-Cap-Ferrat have noted an increase in Ukrainian expatriates, often retreating to private, high-security villas. Despite the principality's reputation for safety, this incident serves as a stark reminder of the complex and sometimes dangerous world inhabited by some of its wealthiest residents.