The Brazilian has emerged as a potential summer transfer target for City, but they are reportedly unwilling to match the fee currently being demanded for his services.
Upon signing for Shakhtar, a £40.5million release clause was inserted in Fernandinho's contract.
He claims to have been given assurances that a compromise could be reached if a top club came calling, but has been left disappointed by Shakhtar's reluctance to relax their stance.
Fresh from turning down the offer of a new contract in the Ukraine, the 28-year-old midfielder said: "The day I signed, the club's director guaranteed me that was normal with his players, and that in a transfer, we could negotiate and reach an agreement on the price.
"I trusted them, and I didn't think about the consequences it would bring me in the future.
"My dream is being threatened because of the high valuation."