The agent of Andrey Arshavin says there have been no offers for the Russian midfielder, and also claims his client does not want to leave Arsenal.
Arshavin is becoming an increasingly peripheral figure at the Emirates Stadium in recent months, and has started only eight games in the Premier League this season.
The 30-year-old's lack of game time and loss of form has seen him linked with a move away from north London, with Anzhi Makhachkala and former club Zenit St Petersburg both touted as potential destinations.
According to The Guardian, Anzhi made their interest in Arshavin known last week and, with the Russian transfer window open for another fortnight, the mega-rich outfit could yet complete a deal.
However, Arshavin's representative Phil Smith does not expect the Russia captain to be leaving Arsenal for his homeland before the end of the season.
"Officially there wasn't an approach and Arshavin doesn't have an offer either," Smith told Sovetsky Sport.
"The club have said they want to keep Arshavin and the player has said he wanted to stay.
"So I think it's not a topic. It's true the Russian transfer window is still open, but it's closed in Europe.
"It's not usual for club to sell their players at this time."
Arshavin signed for the Gunners January 2009 for a club record fee of £14 million, but has failed to live up to expectations after a bright start to his Premier League career.