Dynamo Moscow playmaker Zakharyan admitted in September that he agreed a deal to move to Chelsea in the summer before it collapsed.
The 19-year-old midfielder was a key target for the Blues, who wanted to bolster their options in the middle of the park.
Zakharyan has a £12.6m release clause in his contract and Chelsea were ready to activate it as they were aware of interest from other parties.
However, the move was blocked because Chelsea would have struggled to transfer the cash to Dynamo Moscow due to Russia’s ongoing invasion of Ukraine.
Zakharyan is not giving up on his hopes of moving to Chelsea, with the player hopeful that an arrangement can be sorted in January.
‘There was an offer, but it just didn’t work out. You probably know the reasons,’ he told Sport Express. ‘How could I refuse? Of course, I agreed [to the move].
‘I hope everything will be fine. The next window? Maybe. Of course, the level there is much higher than in the Russian Premier League, but everything is possible.
‘Maybe it would work there. I could always go on loan.’
A statement from Dynamo Moscow read in September: ‘On August 25, FC Dynamo received an offer from the English football club Chelsea regarding the transfer of midfielder Arsen Zakharyan.
‘The interest of one of the strongest clubs in the world [in a] graduate of our club academy is a high assessment of the quality of training of young football players of Dynamo and Arsen’s playing progress.
‘For several days, there were substantive negotiations between Dynamo and Chelsea, in which our club took a constructive position.
‘However, due to a number of technical reasons beyond our control, it is not possible to transfer the player [in] this summer transfer window.
‘Nevertheless, our club remains open to proposals that will suit Dynamo and the player.’
Zakharyan’s agent, Rafaela Pimenta, told Russia’s Sport Express: ‘[It was] impossible to close the transfer of Zakharyan in the summer transfer window.
‘We are working to ensure that Dynamo can receive the money from Chelsea.’
Zakharyan has been voted Dynamo Moscow’s Player of the Year for the past two seasons.
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