Don’t think so. If they are at war in Europe (with Italy or both), they could only collect the NO if there are no AXIS ships in z125, no matter if they are at war with Germany or not. And they can’t attack East Poland to take it back from Italy if there are German units in East Poland unless they also declare war on Germany. It would be another matter if it were a naval battle, but its a land battle with a multinational force defending so they can’t just fight the Italians and ignore the German units. What if they won? Then there would be a Russian territory with bunch of Germans on it and that just don’t compute.
This I2/G3 gimmick gives a huge advantage for the axis because they can get inside Russian territory, and get the $5, and deny Russia their $5, which is why it is such a popular way to launch Barbarossa