Does the country where a credit card is issued affect the content offered in iTunes (with all the restrictions for that country)? I want to create an AppleID account in iTunes/Apple Music. 

iTunes forces me to provide a credit card. There is an option to select the country of my credit card. I have two cards issued in different countries and currently reside in third country. 

My question is: does Apple consider my country to be the country of my credit card, and will all the restrictions and media of that particular country be applied?

UPD:

Actually Apple asks twice whether I want to change the country. At first on Terms and Conditions step, and the second on the next step with credit card form. When I change the country, credit card form is also changed. Even secret questions are different for different countries.


Terms and Conditions step.





Credit card form step.




UPD 2:

Here is what Apple says if I select a country of my credit card. And if I select other country Apple doesn't show this alert. This is what makes me think that Apple restricts access and contents depending on what country your credit card was issued.
Yes it does.

Think of iTunes Store (and Apple App Store) as having separate instances (stores) for each country that Apple Inc. offers the service for. In every country/region iTunes Store has its own offering, language, regulations, pricing, availability, age restrictions, etc.

Apple recognises users by either method of payment or their billing address and allows usage only of the iTunes Store of the region to which an account belongs.

A given method of payment (credit card or prepaid card) is valid only for the country it is issued for (at least at the moment of registration, it can be changed later).