Browder has led a global push for sanctions against Russian officials implicated in the case of deceased lawyer, Sergei Magnitsky, a former employee of his Hermitage Capital Management investment fund and asset manager.
An Interpol statement said it had concluded that Russia's aims are "predominantly political in nature."
Interpol had rejected an earlier request by Russia regarding Browder on the same grounds.
Russia accuses Browder of illegally buying millions of Gazprom shares.
On July 11, a Moscow court convicted Browder in absentia for allegedly aiding Magnitsky in a tax-evasion scheme.
Western governments and international rights groups slammed Russia's rulings against Browder and Magnitsky, who died under torturous jail conditions in 2009 after exposing a massive scheme by Russian officials to defraud the government.