Lee McCulloch put the Gers ahead 11 minutes from time but Daniel Onofras thundered a marvellous equaliser two minutes before the end.
Rangers' heartbreak at conceding a last-minute equaliser in Romania was tempered ever so slightly by the news that Stuttgart and Sevilla had also drawn, leaving the Scottish champions just three points adrift of second place in Group G.
'It was a very good performance and we more than made amends for the last game [when Unirea won 4-1 in Glasgow],' said Smith.
'It was really disappointing to give away a goal so late in the game. I felt we deserved the win and it would have put us back into at least having an opportunity to qualify.
'It's going to be far more difficult now but we just have to hope we can get ourselves together.'
It is, though, the first time since 1996 that the Scottish champions have failed to win any of their first four Champions League games.
Smith's men will aim to stop that particular rot when they host Stuttgart on matchday five before traveling to Spain to face Sevilla, who qualified for the knockout phase despite their draw.
In the only group without British interest played on Wednesday, defending champions Barcelona once again failed to get the better of Russian side Rubin Kazan.
A goalless draw, played out in temperatures that plummeted as low as minus 11, leaves the Catalan giants third behind the Russians and Jose Mourinho's Inter Milan; first and fourth, though, are separated by just two points.
Inter were without a win in eight Champions League games heading into their tricky fixture against Dynamo Kiev. And, with four minutes remaining, it seemed certain that run would stretch to nine after Andriy Shevchenko registered the 48th Champions League goal of his career midway through the first half.
However, Argentinean striker Diego Milito coolly slipped home his first goal in the competition following Wesley Sneijder's measured through ball. The Dutch midfielder then turned from provider to scorer when he bundled in the winner a minute from time.
Rangers' heartbreak at conceding a last-minute equaliser in Romania was tempered ever so slightly by the news that Stuttgart and Sevilla had also drawn, leaving the Scottish champions just three points adrift of second place in Group G.
'It was a very good performance and we more than made amends for the last game [when Unirea won 4-1 in Glasgow],' said Smith.
'It was really disappointing to give away a goal so late in the game. I felt we deserved the win and it would have put us back into at least having an opportunity to qualify.
'It's going to be far more difficult now but we just have to hope we can get ourselves together.'
It is, though, the first time since 1996 that the Scottish champions have failed to win any of their first four Champions League games.
Smith's men will aim to stop that particular rot when they host Stuttgart on matchday five before traveling to Spain to face Sevilla, who qualified for the knockout phase despite their draw.
In the only group without British interest played on Wednesday, defending champions Barcelona once again failed to get the better of Russian side Rubin Kazan.
A goalless draw, played out in temperatures that plummeted as low as minus 11, leaves the Catalan giants third behind the Russians and Jose Mourinho's Inter Milan; first and fourth, though, are separated by just two points.
Inter were without a win in eight Champions League games heading into their tricky fixture against Dynamo Kiev. And, with four minutes remaining, it seemed certain that run would stretch to nine after Andriy Shevchenko registered the 48th Champions League goal of his career midway through the first half.
However, Argentinean striker Diego Milito coolly slipped home his first goal in the competition following Wesley Sneijder's measured through ball. The Dutch midfielder then turned from provider to scorer when he bundled in the winner a minute from time.
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