You can only play if it is released in your country.
Can you otherwise purchase it in Steam Store? If not than you cannot play.
https://support.steampowered.com/kb_article.php?p_faqid=549#country
You should ask this at Steam Support
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Incorrect. There are many games not available for purchase in certain regions, that can still be played inside those regions simply by getting a copy without region lock.
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In an previous bundle was Dead Island. On Steam it is not sold in Germany - you can't even open the Shop-Site of it.
But activating the key was no problem, I have it in my library and can play it.
Therefore I don't think there should be any Problem with it. Either way: If you can't activate a key due to restrictions, Steam shows this as an error message when you try to activate the product.
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So if I activate the key with it...can I still play it?
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