What does this IAM policy do? { "Version" aws video

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What does this IAM policy do? { "Version": "2012-10-17", "Statement": [ { "Sid": "Mystery Policy", "Action": [ "ec2:RunInstances" ], "Effect": "Allow", "Resource": "*", "Condition": { "IpAddress": { "aws:SourceIp": "34.50.31.0/24" } } } ] }