With this sign, do you have right of way at the narrowing?

When approaching a narrow passage, depending on which side we approach from, we may encounter one of two signs below. The first, which is the one in the question, indicates that we have priority of passage over vehicles travelling in the opposite direction. The second, on the other hand, would indicate that the opposite direction has priority and prohibits us from entering the narrow passage as long as it is not possible to pass through it without forcing vehicles travelling in the opposite direction to stop.