Hamilton had qualified second to Ferrari driver Charles Leclerc, but will now be relegated to fifth place.
Red Bull driver Max Verstappen is promoted to the front row, while Hamilton’s teammate Valtteri Bottas and McLaren driver Lando Norris will make up the second row.
The incident occurred in the first segment of qualifying, with Hamilton caught out by the approaching Raikkonen at the sharp Turn 3 right-hander and straightlining the corner in a late attempt to avoid impeding the Finn.
But Raikkonen ended up rolling out of his push lap, and flashed a middle-finger gesture in Hamilton’s direction as he went past.
Hamilton said in the post-qualifying press conference that he hadn’t realised that Raikkonen was among the cars needing to be let through, but the stewards’ verdict has since suggested the Briton had been made aware by his Mercedes team.
“Car 44 [Hamilton] had just come out of the pits and was informed of the cars approaching, including car 7 [Raikkonen],” the stewards’ explanation read.
“Although car 44 tried to take evasive action when he became aware of car 7 approaching on a fast lap, it was not sufficient to avoid impeding car 7, which then had to abort the lap.”
Hamilton also incurred a penalty point for the offence, which now stands as the single point on his licence for the past 12-month period.