The Proton-M rocket was due to lift off from the Baikonur Cosmodrome in Kazakhstan.
Russia's Federal Space Agency hopes to reschedule the launch for later in December following repairs to a set of control equipment in the booster rocket.
The booster was built by the Khrunichev space firm. A similar failure of a Khrunichev booster rocket was blamed for the loss in October of a 120 million euro ($141 million) satellite belonging to the European Space Agency.
Russia has aimed to earn foreign cash by launching foreign commercial satellites.