Monaco vice-president Vadim Vasilyev insists Thomas Lemar won't be leaving this summer.
Lemar is a major target for Arsenal.
But Vasilyev said: "We have kept all of the key players that we intended to keep. I will address speculation relating to the case of (Thomas) Lemar.
"He is staying with us. He is an immense talent and is essential for the team."
Arsenal are pushing to sign Lemar for £45-50m this week.