Arshavin sustained a groin injury in Arsenal's 2-1 loss to Manchester United at Old Trafford on Saturday.
Russia boss Guus Hiddink has confirmed his captain will be absent from Saturday's clash in St Petersburg but is hopeful he could return versus Wales four days later.
"Hopefully with some rest and intensive treatment we could get him ready for the Wales match," Hiddink said.
"It's hard to give a definite answer right now but we should know more about his injury in the next few days."
Arshavin added: "I definitely won't be ready to play against Liechtenstein.
"But I think I have a good chance to play in Cardiff as we still have nine days before that match."
Russia are second in Group Four and currently trail leaders Germany by four points with a game in hand.
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