U.S. Treasury rejects Xtellus bid for Russia's Lukoil assets, sources say

LONDON, Dec 15 (Reuters) - The U.S. Treasury has rejected an offer from U.S. bank Xtellus to buy foreign assets of Russian oil firm Lukoil LKOH.MM, three people familiar with the process told Reuters.

Xtellus had offered to organise a swap of Lukoil securities held by U.S. investors in a cashless deal to return them to Lukoil in exchange for the Russian company's global assets.