The 25-year-old forward suffered a thigh injury in his club's clash with Auxerre on Sunday and will be out of action for four weeks.
However, Blanc has named Remy in the 15-strong panel of Ligue 1 players he is considering taking with him to Poland and Ukraine.
"It's a pretty serious injury," Blanc said during a press conference. "There has been contact with the OM coaching staff.
"So, we could have eliminated Loic today [Tuesday], or given him the chance to get back and we opted for the latter.
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"He will join us on Friday morning, so we can follow his progress, and we will make a decision on May 28."
Lyon attacking midfielder Yoann Gourcuff has also been included in spite of the fact that he has struggled for both form and fitness this season.
"During his long absence, nobody has emerged [to take his place]," Blanc argued. "He can play No.10, but also at No.8.
"His club record is indefensible. But in his last two years, his record in the France team is satisfactory."
Paris Saint-Germain captain Mamadou Sakho has been omitted on account of his recent injury problems, creating room for Montpellier centre-back Mapou Yanga-Mbiwa.
"Mapou has had a great season," Blanc enthused. "He has also benefited from favourable circumstances, but good for him.
"Mamadou is having a difficult time. With the injury of [Younes] Kaboul, we needed a fourth defender capable of playing right away.
"Given the season he has had, it is estimated that Yanga-Mbiwa is better able to fulfil that role."
Blanc last week announced the 12 overseas players in contention for a place in his final Euro 2012 squad, with France scheduled to kick off their campaign against England in Donetsk on June 11 before then tackling Ukraine and Sweden.
Ligue 1 players for provisional France squad for Euro 2012: