Jewish billionaire Arcady Gaydamak will be tried in France on charges of illegal gun-running to Angola.
French media reported Thursday that the prosecutor has refused to close the case, according to news reports.
Gaydamak, who is suspected of shipping arms to Angola during the 1990s, left France for Israel in 2000 in part to escape the charges. A warrant for his arrest was renewed last week. The trial is scheduled to begin in October.
Gaydamak announced his candidacy for mayor of Jerusalem on Wednesday.
Hours after Gaydamak threw his hat into the ring, Israeli prosecutors told him that they had launched an investigation into allegations of vote-buying at a private meeting in his home earlier this year.
He is also facing indictment in Israel over allegations of money laundering and fraud. He was questioned over those allegations in May.