Fifa chief wades into Tevez saga
West Ham were fined £5.5m for irregularities over the signing of Carlos Tevez and Javier Mascherano but they escaped a points deduction.
Blatter said he is "monitoring the situation very carefully".
But Fifa has told BBC Five Live Sport that it is not re-examining the evidence with the aim of testing the Premier League's ruling.
West Ham broke two Premier League rules by entering into a private agreement with a third-party company when they signed Argentine pair Tevez and Mascherano in August last year.
Mascherano has since moved to Liverpool, while Tevez stayed in London and played an influential role in West Ham's successful battle against relegation - scoring seven goals in the club's last 10 games.
Sheffield United, who went down on the final day of the season, are leading the fight against an independent commission's decision not to punish the Hammers with a points deduction.
The Blades, who are being supported by the likes of Wigan, Fulham, Charlton and Middlesbrough, are also concerned that West Ham may still have been breaking Premier League rules after the ruling on 27 April.
The Premier League has argued that it has no case to answer in regards to West Ham's punishment because all 20 Premiership clubs agreed to the disciplinary system in place.
However, that has not stopped Sheffield United pursuing their case and Blatter's intervention may encourage them.
A Premier League statement later read: "We have implemented our rulebook and processes to the letter in this matter and we are more than happy to give Fifa any assurances or explanations they need."
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