Correct - a container app can access a key vault in a different region using a managed identity, as long as both resources are within the subscription(s) associated with the same Entra tenant and the appropriate access policies or Azure RBAC roles are assigned. Azure Key Vault is a global service that can securely handle requests from resources in other regions. However, for optimal performance and reduced latency, you might want to keep the Key Vault and container app in the same region whenever possible.
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hth
Marcin