Italian road sign of 1989: urban pedestrian zone (also bicycles allowed). Figure 3 of  attached I of the decree. Note that the original image is of poor quality also because the decree says explicitly that for the details of the sign should be consulted the other previous laws and decrees about road signage. Note that the sentence in the sign it is written using the font Alfabeto Normale (and not font Alfabeto Stretto) according to pld photos of the sign.
Allegato I del Decreto del ministero dei lavori pubblici del 27 maggio 1989 (pubblicato sulla Gazzetta Ufficiale della Repubblica Italiana - Serie Generale - Numero 129 del 5 giugno 1989)
This SVG sign includes elements  from this sign: