The Nerazzurri are keen to renegotiate the midfielder's current deal in a bid to bring down their wage bill, but with the Netherlands international seemingly unwilling to comply, talks have ground to a halt.
The impasse has led to director Marco Branca's claiming that the 28-year-old will not play for the club until he responds to the contract offer on the table and Cordoba has offered his advice to his former team-mate.
"In many of the situations I find myself in, I just go with my instinct. All sorts of situations I mean, not just those concerning Sneijder," he told the club's official website.
"I've known him for years, we respect each other and we talk about lots of different things. He knows that when there's respect, everything else can sort itself out.
"No one has ever questioned his importance. We hope it all works out positively, for him and for us."
The former San Siro favourite retired at the end of last season after 13 seasons at the club and now works for a charity in his homeland of Colombia, but he still keeps a close eye on his former club and their fresh start under Andrea Stramaccioni.
He added: "Inter are working on a new project and that's what matters the most.
"We'll add everything up at the end of the season. We're still in transition and that means we need to work harder than other teams like Juventus."