The British driver, in his debut F1 season, was driving at high speed when his vehicle hit the cover, which had become loose, sending debris flying across the track.
The session was red flagged and then abandoned just 12 minutes into the scheduled 90 as organisers and track officials worked to check some 320 manhole covers and carry out repairs.
Russell's FW42 was caught up in another incident as it returned to the pitlane on the recovery truck, as the crane that had extricated it made contact with a bridge and was damaged - spilling liquid onto the F1 auto sat on its flatbed. This collision resulted in damage to the vehicle's on-board crane which, in turn, then released a flow of hydraulic fluid onto the engine cover of the Englishman's auto.
"I got the biggest smack through my body, the whole engine turned off, it's ruined the floor and I'm a bit anxious for the chassis now", Russell said on Sky Sports.
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The manhole cover reportedly became loose after Ferrari driver Charles Leclerc drove over the top of it prior to Russell reaching the point of the track.
"It never rains but it pours this year", deputy team principal Claire Williams told Sky Sports, confirming that the costs would run into six figures. "I was just going down the straight on my normal line".
"It's not what we need at this stage".
She said: "It's clear from the data and what everyone can see that there is a lot of damage to the floor of the vehicle and who knows what else".
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Russell's accident is not the first time a auto from the Williams team has suffered damage because of a loose drain cover on the Baku race course.
"We'll need to wait and see until we get it back to the extent of that". "That's not what Formula 1 tracks should be". The incident prompted immediate safety concerns and led to the cancellation of the session so the FIA could check the 6km circuit, which has over 300 drain covers scattered around it.
"How could they have not checked and sealed the drains?" the Briton asked on his Instagram feed.
"We're an independent team, and we have a very strict budget to control".
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The 21-year-old Henderson closed with a 2-under 70 at breezy Ko Olina Golf Club for a four-stroke victory over Eun-Hee Ji. After securing his victory, Pan acknowledged that the near-miss a year ago played a big part in his victory.
"Oh well, (it) just gives me extra time to catch up on Game of Thrones", added the 34-year-old, who has been binge-watching the popular fantasy series.