Public IP addresses in Azure are available in two types: Basic and Standard SKUs. For production environments, I recommend using the Standard SKU.  

The Basic SKU will be retired by September 30, 2025. With the Standard SKU, you configure additional features such as availability zones, routing preferences, and service levels (Tier).  

Standard SKU also allows you to configure DDoS protection specifically for the Public IP address you are creating. 

Standard SKU IP address assignment is Static while in Basic, you get to choose either Dynamic or Static IP assignment.  

You can associate Network interfaces, VPN gateways, Application gateways, and internet-facing load balancers to Public IP address in with Basic SKU, and with Standard SKU, you can associate Network interfaces or public standard load balancers. 

Azure virtual network peering is a feature that allows you to connect two or more virtual networks in Azure, so that resources in each network can communicate as if they are on the same network. 

Virtual networks is vital for secure communication of Azure resources.

When adopting the cloud for your IT infrastructure, it is essential to note that they still need the same networking capabilities as on-premises deployments. The fundamental principles of computer networking are relevant even in the cloud.

External users, such as vendors, partners or freelancers often need access to specific resources within your cloud environment.