Speaking to the Russian media, the 28-year-old apparently suggested that he still dreamed of playing for Barcelona one day, and that a move to the Nou Camp would represent "the pinnacle of my career."
Gunners' boss Arsene Wenger revealed on Friday that he was disappointed with his player's comments, although questioned whether the quotes were 100 percent accurate.
NEWS:Wenger disappointed with Arshavin
And the diminutive playmaker has since denied he is looking to leave the Emirates.
"I respect the club and I am happy that I am a part of it. I am very grateful to the Arsenal fans, who love me," he said.
Arshavin went on to bemoan the press' habit of mistranslating interviews he gives in Russian, claiming the meaning of his words is often deliberately changed.
"I am often translated wrongly. If I talk to the English press, there is no problem but when I say something in Russia, some special news agency takes it, translates it and sells these quotes.
"During the process of interpretation they translate my words as they see fit. I find this unpleasant because people might think I said something that, in fact, I never said."
The Russian international has not played since March after picking up an injury in Arsenal's 2-2 draw with Barcelona in the Champions League.
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