Piveteau is awaiting an appeal hearing for financial irregularities over a previous transfer involving Essien.
"The French Football Federation could (suspend him)," Blatter told The Guardian newspaper.
"They could suspend this agent until the moment when the (appeal) decision is finally taken."
Piveteau is still a licensed agent with the FFF despite having been convicted in May of being an accessory to the diversion of funds during Essien's move from Bastia to Lyon in 2003.
Piveteau received a two-year suspended sentence, against which he immediately appealed and is currently awaiting the outcome of the hearing.
Christophe Drouvroy, the FFF's deputy legal director, said no action would be considered until the appeal had been concluded.
"French law forbids that someone may hold a licence as a players' agent if he is definitely condemned; ipso facto, he would be stripped of his licence," he said.
There is no suggestion of any wrongdoing on Essien's part.