It looks to me as though north, and south are a minor road, east, and west are a major road.
North south road markings are - Give way to the right on a Mini roundabout.
East west are - Give way to the right on a roundabout.
It is difficult to work out what the road markings are intended to convey, give way to the major road?
It is important to note, the Highway Code doe's not give anyone priority, it only tells one party to give way.
In this case Yellow looks right, seeing nothing coming it can proceed, Red on looking right seeing Yellow, it waits.
If Yellow is sensible, it will keep an eye on Red because it may not be sensible, should Red make a dash Yellow should give way, it's quicker that way.