If you have shopped for keys before, you have seen labels like EU, ROW, and global. They describe where a key is allowed to activate.
A global (region-free) key works anywhere. A regional key — EU, for example — only activates for accounts in that region. ROW means rest of world, usually everywhere except a few excluded regions.
KeyVault enforces region eligibility as a hard rule: we never sell you a key that cannot activate where you are. The all-in price you see is for a key that works for your region.