The 26-year-old had been due to undergo a medical with the Russian outfit earlier this summer, but a disagreement over his wages at the 11th hour ultimately saw the deal break down.
"I'll say here, definitely. I can't say anything about my contract, I don't know what will happen. But I'll stay," the Greek international told Corriere dello Sport.
It is understood that Manolas wanted Zenit to pay his contract in euros in order to safeguard against any potential collapse of the ruble, but the club refused to grant his request.