Does the "give way" sign placed before the intersection apply in this situation?

In the video you are approaching a roundabout with traffic lights in town; the traffic lights show green, and on both sides of the entry there are signs A-7 "give way" and C-12. The "give way" sign placed before the junction does not apply here. The answer is: no.

The Road Traffic Act states that light signals take precedence over road signs that regulate right of way. Sign A-7 belongs exactly to this group, so when the traffic lights are working, the signal decides whether you may enter the roundabout: green allows you to drive beyond the traffic lights, red prohibits it, and sign A-7 remains "asleep". It only starts to apply when the traffic lights are switched off or show flashing amber - then, when entering the roundabout, you give way to vehicles already on it. This arrangement is deliberate: the signs stand permanently so that the junction also works at night or when the lights fail. However, green does not release you from particular caution when approaching the junction, or from the duty not to obstruct pedestrians and cyclists leaving the roadway; at a roundabout with traffic lights, vehicles going round may have separate traffic lights, so you watch whether someone is finishing their passage in front of your entry.

Legal basis: Art. 5 para. 3 and Art. 25 para. 1 of the Road Traffic Act (Prawo o ruchu drogowym); § 95 para. 1 point 1 and para. 2 and § 5 para. 5 of the Regulation on road signs and signals