The Russian outfit are in the process of cutting their budget after owner Suleiman Kerimov decided to pull the plug in what would be a drastic overhaul of the club's finances.
As such, star players like Samuel Eto'o and Willian have been made available for transfer, with a whole host of Europe's elite showing interest in the Russian's sought-after stars.
Liverpool and Tottenham are reportedly locked in a two-way dual to secure the services of the Brazilian international, but Villas-Boas has poured cold water on such suggestions, denying that the White Hart Lane outfit are close to taking their summer spending towards the £90 million mark.
When asked whether he had launched a bid for the 25-year-old, Villas-Boas said: "No, no."
However, the Portuguese tactician did concede that he was an admirer of Willian, adding: "He is a player who I appreciate.
"He belongs to them and I respect them so I wouldn't like to extend myself too much."
Should Spurs push through a move for Willian, he would be the latest Samba star to join the growing contingent of Brazilians in north London.
Tottenham already have Paulinho and Sandro in their ranks, whilst their summer spending has already exceeded £60 million, having signed the likes of Nacer Chadli, Roberto Soldado and Etienne Capoue.
But having struggled to overcome newly-promoted Crystal Palace on Sunday, Villas-Boas is keen to add to his squad further.
"We haven't finished," the 35-year-old said.
"We have a very, very good squad. We have done most of our activity in the market, but we are looking further on that.
"There is a possibility [of new signings], yes."