Raikkonen was handed a 10-second stop-and-go penalty for causing the incident, which was converted into a 30s time penalty since he was not able to serve his punishment during the race. It means he now scores only four points rather than 10, handing Mercedes an unassailable lead in the team standings, thus securing them a second consecutive constructors' crown.
Bottas was ahead on track as he and Raikkonen started the final tour, but the latter closed through Turns 2 and 3 before diving down the inside at the right-hander of Turn 4. With the Ferrari coming from a long way back, however, Bottas was unaware of the move, and as he turned in Raikkonen's front-left tyre tagged his rear, pitching the Williams into the barriers and out of the race.
Speaking before reporting to the stewards, Raikkonen claimed it had been a racing incident in his opinion.
"I overtook him once before there [during the race]," the Finn said of his move. "I was catching through Turn 3, I wasn't too far and thought I'd try again. Once I decided to try I couldn't pull back.
"I don't know if he saw me or expected me. I tried to turn inside as much as I could and we collided. For me it was racing, I tried to pass and unfortunately it ended like this."
Compatriot Bottas, however, offered a very different stance, saying: "I don't think it was a racing incident. I didn't see anyone there, I was in front and then suddenly someone hit me.
"It's very disappointing, obviously - I was running third on the final lap, I should be on the podium, but I'm here and with zero points. I'm just disappointed."
Raikkonen was also given three penalty points on his licence for the incident. As a result of his penalty home favourite Daniil Kvyat moves into fifth, with Sauber's Felipe Nasr and Lotus's Pastor Maldonado also promoted to sixth and seventh respectively.
McLaren's Fernando Alonso, meanwhile, was issued with a 5-second time penalty of not respecting track limits at Turn 16. As a result, Toro Rosso's Max Verstappen is promoted into the top 10, with Alonso dropping a place to 11th.