The 31-year-old midfielder was guilty of handling the ball in his box in injury time of the first half, prompting referee Nicola Rizzoli to point to the spot.
Antoine Griezmann converted the resulting penalty to give his side a crucial 1-0 lead before half-time but Low has absolved Schweinsteiger from any blame while also suggesting he had no problems with the decision.
"I don't say anything about referees' decisions," he said.
"You have to accept them. I don't know if it was a penalty. If you see how he approached the ball, it touched his hand, but it was bad luck.
"There is nothing to blame him for, but the hand up there you can say it shouldn't be there. There are movements and you can't control them."