كتب : Omar AbdelAziz
Hleb has been strongly linked with Inter Milan as speculation suggested that the Belarusian is set to buy out his Arsenal contract using the Webster ruling.
"That is not as simple as it looks. And you should not forget that what players can do to us we can do to them," Wenger told Arsenal's website.
"The Webster clause is not easy, you can't come in next day and buy out. There is no rule that says what it is all about.
"You have to go to a tribunal and then to FIFA and if you don't agree with FIFA, you have to go to ACAS. It takes a lot of months. And you can be banned for the whole period if it is not done in a proper way."
The Gunners have already sacrificed Mathieu Flamini and Jens Lehmann for next season, but Wenger is unwilling to see anymore exits.
"Apart from Lehmann, there is one player (Flamini) who is free, and he has already left," added the Frenchman.
"For me, 98 per cent of the squad will be here next season. And the two per cent have already gone.
"The rest are all under contract. If anybody wants to buy a player he has to call me. I can give you my number if you want because maybe some ignore that I have a phone.
"What is unbelievable is I’m sitting here [at the press conference and it is] like we have killed all the players. Yet when I go to my office I have 220 calls from players who want to come in."
During the past couple of years, Wenger saw former captain Patrick Vieira leaving for Juventus, before losing Arsenal's all-time leading goalscorer Thierry Henry to Barcelona last summer.