The 28-year-old, tipped to leave the Emirates Stadium before the transfer window closes, has yet to feature for the Gunners this season due to an abdominal strain picked up on the eve of the new campaign
Wenger believes that Sanchez is on course to make a return to action at Anfield in seven days' time, however, nearly two months on from his most recent run-out for Chile in the Confederations Cup.
"If all goes well through the week, he should be available to be selected for the next game, yes."
"I think he did fight. It is difficult to single anybody out," he added. "I believe we had many, many chances and personally I don't think he deserves [criticism]."
Manchester City are understood to be the only side still in the running to sign Sanchez, reportedly offering him wages of £400,000 a week to push through a move.