I думаю ваш ожидаемый результат неверен. Ни одно из правил не исключает 2-й ряд (Европа - закуски - да).
SQL> with
2 -- sample data
3 test (product_id, attr_1, attr_2, attr_3) as
4 (select 81928 , 'Europe', 'beverages', 'yes' from dual union all
5 select 16534 , 'Europe', 'snacks' , 'yes' from dual union all
6 select 56468 , 'USA' , 'snacks' , 'no' from dual union all
7 select 129921, 'Africa', 'drinks' , 'yes' from dual union all
8 select 123021, 'Africa', 'snacks' , 'yes' from dual union all
9 select 165132, 'USA' , 'drinks' , 'yes' from dual
10 ),
11 rules (attr_1, attr_2, attr_3) as
12 (select 'x' , 'x' , 'no' from dual union all
13 select 'Europe', 'snacks', 'no' from dual union all
14 select 'Africa', 'x' , 'x' from dual
15 )
16 -- query you need
17 select t.*
18 from test t
19 where (t.attr_1, t.attr_2, t.attr_3) not in
20 (select
21 decode(r.attr_1, 'x', t.attr_1, r.attr_1),
22 decode(r.attr_2, 'x', t.attr_2, r.attr_2),
23 decode(r.attr_3, 'x', t.attr_3, r.attr_3)
24 from rules r
25 );
PRODUCT_ID ATTR_1 ATTR_2 ATT
---------- ------ --------- ---
81928 Europe beverages yes
16534 Europe snacks yes
165132 USA drinks yes
SQL>