The 27-year-old, who played a starring role for Guus Hiddink'sRussia as they reached the Euro 2008 semi-finals last month, has spoken of his "dream" to move to the Nou Camp.

Barca are so far the only club to have made an official approach for the playmaker, but Russian champions Zenit revealed talks had come to an end today after the Mediterranean outfit refused to increase their bid.

"Barcelona failed to improve their original offer of 15 million euros," read a Zenit club statement. "We have therefore decided to end our negotiations with Barcelona.

"We have received no offers for Arshavin from any other clubs, so there are no discussions taking place about his transfer."

Weekend reports suggested Arshavin was on his way to either Chelsea or Arsenal but Zenit confirmed in a statement earlier today that no negotiations have taken place as yet.

"The only request about the possibility of the forward's transfer was the offer from Barcelona," read the statement.

"Information in the media about Zenit's negotiations with Chelsea is not corresponding to the truth."

Arshavin was in St Petersburg at the weekend but did not figure in his side's 5-1 thrashing of Tom Tomsk on Sunday.