Based on your ask, you would like to block internet access if I exceed a limit.
Assuming this access is blocked, it will impact VM accessing storage and also the connectivity to the VM itself (as all are public endpoints).
As of today, there is NO option from Azure to enforce it.
However, you can try something from your end if you can setup a logic to keep track of outbound data per user basis.
I will share this as a feature request to the VM Product team. The team can evaluate and can add this request to backlog based on feasibility.
Hope this helps.
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