Yarmolenko has turned down a move to China due to his desire to make a move to one of Europe’s top leagues in the future, according to the Liverpool Echo.
The Ukrainian has been a long-term target for Everton who have tried to pry him away from Dynamo Kyiv in the past two transfer windows. Kyiv were reluctant to sell the forward in the summer due to a lack of time to find a replacement while in the January transfer window the club refused to let Yarmolenko leave due to their involvement in the Champions League.
The Ukrainian club face Manchester City a week today in the last 16 of the competition.
Yarmolenko, who has scored eight times in 15 appearances this season, would be a massive coup for a club such as the Blues with teams such as Barcelona, Arsenal and Chelsea all potential suitors. Such a high-profile transfer could ease the pressure that has currently been placed on the team due to a poor first-half of the season.
Everton face Bournemouth in the FA Cup this weekend as they look to hit form again after their poor performance against West Brom on Saturday, with winter signing Oumar Niasse set to have some involvement in the game.