England forward Sterling, 20, has delayed talks over a new contract until the summer despite reportedly being offered £100,000 per week to remain at Anfield, and Arsenal are among several clubs mentioned in the media as possible suitors.
But ahead of playing host to Liverpool and Sterling at Emirates Stadium on Saturday, Wenger said: “Raheem Sterling is a top player, everybody in the country knows that now. He is a very important player for Liverpool of course.
“I do not want to speak about any move. We are not in a transfer period, we are in front of a big game.
“I respect Liverpool and I do not want to go into any supposed move for any of their players.
“I don’t want to interfere in (reports over contract negotiations), especially 48 hours before the game. That’s down to Liverpool, it is not my problem.”
The Frenchman was more open about the future of his own midfielder, the injured-plagued Abou Diaby, who is close to full fitness following the long-term knee injuries that have restricted him to a handful of games in two years.
“I had a chat with him and told him how I can envisage the future. He has to make a decision,” said Wenger, who revealed is hoping agree contract extensions for veteran midfielders Mikel Arteta and Tomas Rosicky.
“Of course he (Diaby) understands completely that he has to perform and to show that he can be present on a consistent way. I will see where we go from there.
“I wouldn’t like to go into details, we have to meet again to see where we go from what I told him. It has to be linked a little bit with his presence.”