Hello @APTOS
The Microsoft documentation here doesn't seem to clearly state it, but based on my understanding I think the region here refers to the tenant region.
Due to different regions, I couldn't test it for you. If the tenant's region is an available region, it is recommended that you test whether it is possible. If it doesn't work, it will give the following error.
Error:
"The Import service for your region has not been rolled out yet. Please check back after rollout is announced."
If that doesn't work, you could also choose the second method as an alternative.
Regards
Shaofan