Reds boss Sir Alex Ferguson has consistently played down suggestions that discussions are taking place regarding a deal for Sneijder, while Inter have also stated there are no negotiations.
Young is likely to face Sneijder on Wednesday when England meet Holland in a friendly, but was diplomatic on the possibility of the two becoming club team-mates.
"He's a terrific player," said Young, who joined United from Aston Villa earlier in the summer.
"He's done great throughout his career for club and country.
"He's an Inter Milan player, that's all I can say about him to be honest."