Intuitively (and formally) the ideal $\langle U\rangle$ generated by $U$ consists of all elements, which are in $U$ or can be built from $U$ using operations of the ring. This at least suggests that $I = \Bbb Z U + RU + UR + RUR$ always is the correct description of the ideal generated by $U$: you can add elements of $U$ to themselves ($\Bbb Z U$ is the abelian subgroup generated by $U$), you can multiply elements of $R$ from the left / right / both sides, and a generic element in the ideal will be a combination (ie. sum) of those options.
Now consider the set $$RUR = \left\{\sum \limits_{i=1}^n r_i u_i s_i \mid r_i,s_i \in R, u_i \in U\right\}$$
By the previous discussion $RUR \subseteq \langle U\rangle$ is always the case. But if the ring does not admit a unit, how can you obtain an element $u\in U$ from an element of the form $ru's$ or a sum of those? This suggests that the inclusion can be strict. And in fact it sometimes is: Consider the sub-rng $R:=2\Bbb Z \subseteq \Bbb Z$ and let $U=\{2\}$. We have
$RUR = 8\Bbb Z,$ while $\langle U\rangle = 2\Bbb Z = R$.
Now if the ring does have a unit, we find that $\Bbb Z U \subseteq RUR$, $RU \subseteq RUR$ and $UR \subseteq RUR$ thus $I = RUR$.