An Azure network security service that is used to protect Azure Virtual Network resources.
Hello @Suki Azure
In addition to Suwarna S Kale's response, I am adding a few points as outlined below.
As you mentioned that you want to connect Azure Event Hub in Tenant A from a VM in Tenant B through Azure Firewall in Tenant A, the recommended approach is to create a User Defined Route (0.0.0.0/0 -> Next Hop to Azure Firewall) on the VM Subnet in Tenant B. This will force the traffic to Azure Firewall in Tenant A via VNet peering. Additionally, create an application rule on the Azure Firewall to allow the traffic to Azure Event Hub.
Since you mentioned that Private Endpoint, VNet Peering, and Site-to-Site VPN are not allowed due to network segregation policies, creating a DNAT rule in Azure Firewall and forwarding the traffic from the VM public IP to the Event Hub FQDN through the Firewall would be the best option.
However, I replicated the same scenario and successfully connected to the Azure Event Hub using the Azure Firewall DNAT rule, as shown in the screenshot below.
Azure Firewall DNAT Rule
You need to configure your own DNS server on the VNet to forward DNS queries to the appropriate endpoint. I used the Host file on the Azure VM to test this scenario.

Whitelisted Azure Firewall public IP on the Azure Event Hub
To enhance security, consider adding layers such as IP whitelisting and SAS token authentication, alongside logging to Azure Monitor or Azure Sentinel.
Regarding general security for Azure Event Hub, your current measures (TLS enforcement, SAS token usage, IP restriction, enabling Azure Defender for threat detection, implementing NSGs to restrict access, using Service Tags for firewall rules, and logging) are robust.
Refer these articles:
https://learn.microsoft.com/en-us/azure/azure-monitor/logs/workspace-design
https://learn.microsoft.com/en-us/azure/sentinel/connect-services-diagnostic-setting-based
I hope this has been helpful!
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