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.