Ukrainian oligarch Vadim Ermolaev, 58, and his wife are fighting for their lives after a bomb blast ripped through the La Rousse district of Monaco

The improvised explosive device containing nuts and bolts went off in the foyer of an apartment block called the Sun's Palace soon after 9.00pm on Monday.

One victim was named by a local news outlet as Vadim Ermolaev - one of Ukraine's wealthiest men - who is understood to have fled the country amid the war with Russia