'Deliberate explosion' injures three including one of Ukraine's richest men in Monoco

One of Ukraine's richest men is said to be 'fighting for his life' alongside his family who are severely injured, after a 'deliberate explosion' at a luxury apartment complex in Monaco.

Ukrainian oligarch Vadym Yermolaiev is seriously hurt allegedly alongside his wife and teenage son, after the family were 'targeted' on Monday night (June 29).

They were staying at the Sun's Palace on Rue Révérend Père Louis Frolla, near the French border, when the attack unfolded.

Authorities have launched a manhunt for the perpetrator, who is believed to have planted a backpack packed with nuts and bolts before the devastating explosion.

The billionaire reportedly left his home country following the start of the latest fighting with Russia.

As well as rushing the family to hospital, emergency services treated four other people for shock and cuts from windows shattered in the blast.

Video footage posted online appears to show the attacker running away from the scene.

Police are currently searching for the attacker who fled the scene. (Valery HACHE / AFP via Getty Images)

Speaking to the Daily Mail, Marine Cotta, a neighbour who witnessed the explosion said: "I could hear the police, alarms, and fire trucks, and that's when I thought, 'Okay, something is going on'."

She described the bang like 'fireworks' being set off just meters away, before more than 100 police and emergency personnel were deployed to the scene.

In a statement, Christophe Mirmand, Monaco's Minister of State, described the incident as a 'deliberate explosion'.

He said: "The explosive device likely contained bolts and shrapnel.

"The three victims were in the building's entrance when the device exploded. It is presumed that they belonged to the same family.

The victims were rushed to hospital. (Valery HACHE / AFP via Getty Images)

"Police services are currently gathering evidence. To my knowledge, this is the first time in history that such an act has occurred in the Principality."

French outlet Le Figaro reported that video surveillance images of the moments leading up to the attack showed a man dropping a backpack in the lobby of a building shortly before the explosion.

Monaco's Prince Albert II labeled the incident as a 'heinous crime' and a 'shock to the entire Monegasque community'.

Yermolaiev is one of 100 Ukrainian oligarchs who have fled the war with Russia to live on the French Riviera.

The 58-year-old made his billions as a real estate developer in Dnipro, central Ukraine, and has four children in total.