Charges against Chichvarkin, who is currently in Britain with his family, were brought as part of an earlier kidnapping case against former Euroset vice president Boris Levin and two other company officials. Chichvarkin's lawyers say he currently has no plans to return to Russia.
The arrest warrant was originally issued in late January, and appealed against by the businessman's lawyers as "illegal and without grounds" as no separate criminal case against Chichvarkin had been opened.
Chichvarkin's defense attorney Vladimir Zherebenkov said he would appeal the decision, including in the European Court of Human Rights.
"I am sure we will get a positive result. It's just a matter of time," he told journalists.
The businessman is suspected of authorizing the 2003 abduction of Euroset's shipping agent, Andrei Vlaskin, who allegedly stole large quantities of mobile phones from the company and then sold them on through a retail outlet he had set up for the purpose.
As part of the investigation, police operatives raided last week a Euroset office and the residence of Chichvarkin's personal assistant to search for evidence related to the case.
They seized 9,000 British pounds, 850,000 rubles (about $24,000) in cash, several laptops, cell phones, and other electronic data storage devices.
Chichvarkin was previously a candidate for the leadership of the pro-business Right Cause party and was elected in absentia to the Moscow branch of the party's political council on Saturday. The party was created with the support of the Kremlin.
