UK Plans to Use Seized Russian Oil to Fund Aid for Ukraine

UK Prime Minister Keir Starmer is considering selling Russian oil seized from a “shadow fleet” tanker and using the proceeds to support Ukraine, The Telegraph reported, citing sources.

The cargo consists of about 98,000 tonnes of Urals crude aboard the tanker Smyrtos, which was intercepted by British forces in the English Channel on June 14 over suspected sanctions violations. The vessel remains under the control of the UK Ministry of Defence, while its captain has been charged with helping circumvent sanctions.

According to the report, the tanker could eventually be returned to Russia after the investigation, but the oil cargo may legally become UK property. Valued at around £35 million ($48 million), the crude could be sold, with the proceeds used to fund military assistance for Ukraine or purchase weapons and equipment. British authorities are also considering refining the oil domestically to support the country’s energy needs.