The incident happened in Russia's 3-2 defeat to the United States at the semi-final stage.
The 25-year-old is reported to have accosted referee Bill McCreary towards the end of the match.
The Russians appeared to score the tying goal late in the third period, but McCreary refused to review the play despite vehement protests by the team and coach Vyacheslav Fetisov.
Markov was given a gross misconduct for verbal abuse as he and other Russian players confronted McCreary after the game.
The Russians will play Belarus in the play-off on Friday.