Moulson, who scored two goals in his Buffalo debut on Monday, wasn't in the team's long-term plans, according to reports, making him expendable.
The Islanders will monitor Vanek's situation, and how he performs with center John Tavares, and likely offer him a large contract after the season concludes, but in the meantime, Snow appears to be focused on improving other areas of his team.
According to two league sources, the Isles are exploring the possibility of bolstering their blueline.
With veteran defenseman Lubomir Visnovsky on the shelf after suffering a concussion, the Islanders could up their efforts to find a temporary replacement on the backend, but one source told TFP the Isles aren't looking for a short-term fix.
The Islanders have roughly $11.5 million in available salary cap space.