Wenger said Sanchez is still recovering from an abdominal strain but is expected to regain full fitness before the club's match in Liverpool on August 27.
The Chilean, who turns 29 in December, has repeatedly stated his desire to move away from the Emirates in the summer and is in the final year of his contract. "We have not progressed on that front".
"Our medical people think Saturday comes too soon [and] he should be available for [the] next game against Liverpool".
"His recovery is going very well, he is working very hard. but you have to be very cautious".
Mapped: US and Allied Missile Defenses Against North Korea
The confirmation came as NBC News in the U.S. gave details on a possible pre-emptive United States military strike on North Korea. Resident Isaac Camacho, 19, says he feels Guam's relationship with the US mainland is "a little misunderstood on their part".
Wenger has now suggested that Sanchez will run down his current contract, which means that he will be able to leave for nothing next summer.
"That is a effect of what I say, yes, unfortunately", added Wenger.
"But we have to make a choice between efficiency on the field and financial interest and most of the time if you can find a good compromise, it's better".
"But in this case, I think I prioritise the fact that he will be useful on the sporting side".
Mesut Ozil is also out of contract next summer but little has been made of his situation, while Alex Oxlade-Chamberlain is another whose deal expires in 2018. "I don't think there is any comparison at all because we want him [Sanchez] to be with us and Chelsea does not necessarily want that".
"Yes, I am very happy about that", said Wenger.