UK considers selling oil from detained Russian tanker, sending proceeds to Ukraine

British Prime Minister Keir Starmer is considering the sale of more than 100,000 tonnes of oil from the detained Russian tanker Smyrtos, with the proceeds potentially being transferred to Ukraine, The Daily Telegraph reports, citing sources.

According to the newspaper, many British officials believe that the oil cargo aboard the vessel now belongs to the United Kingdom, giving London the authority to determine how it should be used. British ministers are reportedly planning to auction off the Urals crude oil that was being transported by the tanker.

The publication added that the cargo has an estimated market value of around £35 million, and the British government is examining a proposal to direct the proceeds to Ukraine’s armed forces.

On June 14, Starmer announced in a joint statement with the Ministry of Defence that British forces had seized the tanker Smyrtos in the English Channel. The vessel was described by the UK government as part of Russia’s so-called “shadow fleet.”

By Jeyhun Aghazada