What country doesn't compete in the Olympics?

Several countries and territories do not compete in the Olympics, mostly because they are not recognized as independent National Olympic Committees by the International Olympic Committee, or due to political or logistical reasons. The most notable sovereign state that does not compete is Vatican City, which is the world's smallest internationally recognized independent state but does not have a National Olympic Committee and has never participated in the Olympics, though it has expressed interest in forming a team for the future. Other entities that are not IOC members and thus do not compete include many dependent territories like Macau, which competes in the Asian Games but not the Olympics, and territories like the Faroe Islands and Greenland which compete under Denmark. Some countries have missed specific Olympics due to bans or boycotts but generally do compete, such as Russia and Belarus which are currently banned from competing under their own flags due to the war in Ukraine and doping sanctions, competing instead as Individual Neutral Athletes. North Korea has skipped some Olympics voluntarily but remains an IOC member. The IOC currently recognizes 206 National Olympic Committees, which includes more teams than the United Nations' 193 member states, because it allows territories like Puerto Rico, Guam, and Hong Kong to compete independently.