Jellyfin IPTV question

[Wey]

Hello everyone, 

I have a general question regarding Jellyfin IPTV.

I hope I'm expressing myself clearly enough.

When you watch IPTV via Jellyfin using an M3U file, does Jellyfin establish the connection to the IPTV provider and then forward the stream to the client?
Or does Jellyfin simply pass the IPTV connection details to the client, and the client opens the connection directly?

What I'm aiming for: I would like to watch IPTV anonymously and have thought of the following setup:

Proxmox -> LXC container -> VPN + Kill Switch -> Jellyfin IPTV -> Anonymous IPTV on my client

Thanks
Regards
Wey