Iran midfielder Ashkan Dejagah had his claims for a second-half penalty turned down after he was felled by Pablo Zabaleta in the area, with replays suggesting that the Manchester City defender made minimal contact with the ball.
After Mazic waved away Dejagah’s appeals, Iran had numerous chances to take the lead but were eventually undone by a superb Lionel Messi strike in stoppage time.
Queiroz believes the decision could have gifted his team all three points and feels the Serbian referee made a mistake by not awarding a penalty.
"Messi was fantastic, but the referee wasn't," said the former Real Madrid coach.
"I don't understand it, he had to have seen it was a penalty. He was five metres away, there is no way he couldn't have seen it.
"I have the right to say this and I only hope I am now not punished for telling the truth."
The defeat in Belo Horizonte means that Iran's hopes of qualifying from Group F now hang by a thread.