Albon was running in sixth place but lost the rear of the FW45 through Turn 7 to career across the gravel trap and nose heavily into the barrier before bouncing back towards the asphalt.
The Thai-Briton lost the front wing and damaged the rear wing in the immediate impact before the car came to a rest over the kerbs and was unable to continue.
An initial safety car was deployed before the race was halted due to the gravel - which showered the passing Alpine of Pierre Gasly - and debris that has been dragged onto the track.
The stoppage appears to have hurt early leader George Russell.
The Mercedes driver enjoyed a superior launch over polesitter Max Verstappen to challenge the Red Bull, then cementing first place with the inside line into Turn 1.
The two-time champion was delayed at corner exit to hold up second row-starter Lewis Hamilton, but the second Mercedes then dived down the inside into Turn 3.
Hamilton came out on top to take second in a robust battle, for which Verstappen’s claims that he had been run out of room were dismissed.
With the advantage of track position, Mercedes opted to pit Russell in a slightly slow 3.6s stop and he rejoined in seventh place.
However, the red flag will deny the advantage of taking a theoretically quicker pitstop behind the safety car, as Hamilton and Verstappen can change tyres under red flag conditions.
Similarly, fourth-running Carlos Sainz also pitted initially but has been bumped back to 11th.
Source: Autosport