The 24-year-old midfielder has emerged as a top target for Arsenal this month and the club have been exploring a deal to take him to the Emirates.
The Gunners are in no mood to meet the £40m asking price Norwich are said to have placed on his head, but are keen to negotiate a fee for his arrival.
But it has been claimed that the north London club are likely to face brick wall in their attempt to sign the Argentine in the winter window.
Norwich are in no mood to do business and are not interested in any kind of negotiations for the attacking midfielder’s departure.
The Canaries are leading the Championship table and do not want to sell Buendia and jeopardise their attempt to win promotion back to the Premier League.
Norwich are also under no pressure to sell the player as they spent very little of the £25m they bagged for selling Ben Godfrey to Everton last summer.
Buendia is keen to play in the Premier League and recently admitted that he could be open to a move.
But for the moment, Norwich are set to resist any offers for the Arsenal midfield target this month.