That's right! There are plenty of other continents with dictators to give into!
I don't know how much Google is profiting from the Belarusian government, but unless it's a lot, I doubt Google would actively try keeping these ads. If it is a lot of money, that's indeed a data point which supports the theory that they're acting out of greed.
The above of course doesn't excuse Google's mismanagement of the situation, but doing something bad out of incompetence is a different kind of failure (with different remedies necessary) than doing the same out of greed.
I'm saying that most of them — including those who can do something about it — are probably not aware that this ad got through their approval system. If you think this is not the case, you underestimate how inefficiently information travels in large organisations.
As for how much they're profiting off of it? Probably not much from just the Belarusian government, but they don't just have morally awful ads by Belarus, they have morally awful ads coming from probably thousands of advertisers. This one is just exceptionally disgusting. But I doubt an actual human was even involved in the responses about this ad.
At 11:30-12:20, he taught a course on advertising. At 12:30-13:20, he taught a course on business ethics. Every time a student asked a question, he had to stop and remember which course he was teaching before he answered!