The Azure Key Vault firewall controls network reachability to a vault by IP address, subnet, or trusted Azure service. New vaults have the firewall disabled, so network requests are broadly allowed by default; network reachability does not grant permission to perform operations. Authorization still requires Azure RBAC or an Azure Key Vault access policy. section 5.2.3 section 5.2.2
Restrict a vault to a VM subnet
Enable the Key Vault service endpoint on VMSubnet, add /virtualNetworks/VNET1/subnets/VMSubnet as a vault network rule, and set the vault's default action to Deny. The resulting network ACL shows defaultAction Deny and the permitted subnet under virtualNetworkRules.
