@NM Please confirm the following:
1- The Gateways are configured using Dynamic routing and not Static routing as static routing is not supported for VNET-VNET connectivity.
2- In order for the Vnet to Vnet to be established and "connected", you need to add connections on both VPN gateways. Please also refer to similar Q&A article for more details- https://learn.microsoft.com/en-us/answers/questions/52237/vnet-to-vnet-connection-using-networkgw.html
3- Make sure that you are not hitting any limits for number of VPNs.
4- Please check the address prefixes on both the VNets to make sure there is no overlapping of address spaces between the two VNets.
You can also diagnose VPN connectivity issues with Powershell now. Please refer to document for more details.
If you have any further questions/concerns, please do let us know and we will be glad to assist you further. Thank you!
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