Hello @Vinoth Kaliaperumal
You can Global virtual network peering to achieve this. You set this up the same way as standard peering, but it will allow you to peer networks in different regions. Just bear in mind there are constraints.
Resources in one virtual network can't communicate with the front-end IP address of a Basic Load Balancer (internal or public) in a globally peered virtual network.
Some services that use a Basic load balancer don't work over global virtual network peering. For more information, see What are the constraints related to Global VNet Peering and Load Balancers?.
Further more, if you want to isolate the traffic between the two devices only, you can use Network Security groups to control the inbound / outbound traffic to /from subnets, IPs etc.
https://learn.microsoft.com/en-us/azure/virtual-network/network-security-groups-overview
kind regards
Alistair