If you have multiple VNets, they can communicate using either Gateways or Peering. Previously Peering supports in a single azure region. After Azure Global VNet Peering, now you able to communicate to VNets across regions. This is a value add duirng Backup, Relication, Failover etc...See this video for details.

Connect Virtual Networks across Azure Regions 😎
Dec 09 2019

Jaish Mathews

Azure VNets can now communicate across regions with Azure Global VNet peering.