Try to "plain" read it for beginning. If you see any files on floppy - your drive probably all right, in terms of compatibility.
Try also turn disc to another side - if it is single-sided, maybe you placed it wrong?
Also, if you see files, try to copy at least it - in most cases it is enough to recover game. Total Commander is big help with recovering here: you can order it to "Retry" file, until you read it at last (proven that it could be read at all
Also, yes, floppy-drive itself could be the reason of the problems. I remember my old days on Speccy, when most of sold 5,25 drives was incompatible to each other and needed to be ajusted manually... %) Maybe it is only cheap Soviet drives, though.