According to billionaire businessman David Sacks, Russia-U.S. peace talks can save the world from World War III, as US engagement in the Ukraine crisis has now been shown to be ineffective.

The West’s efforts to press forward with providing military support to Ukraine, which feeds NATO’s ongoing proxy war with Russia, have given rise in recent months to increased conjecture over the possibility that World War Three could break out.

The billionaire businessman David Sacks of the United States stated at a gala for the Republican think tank American Moment in Washington that the US should “cut a deal” and pursue detente with Russia to avert a Third World War, which would provide a foundation for global peace.

The yacht “Amadea,” owned by Russian oligarch Suleiman Kerimov, who is under sanctions, costs US taxpayers $1 million a month.

The 51-year-old also said during the address that US engagement in the Ukraine crisis has now been shown to be ineffective. He held Washington accountable for putting sanctions on Russia and extending the impasse.

“The idea that sanctions are working is totally delusional. The Russian economy stabilized and even outperformed G7 economies in 2023,” the venture capitalist stressed.

Europe, according to Sacks, was the “real victim” of the sanctions, and its people “have realized that this [NATO’s proxy] war [with Russia] is not in their interests.”

Citing the asymmetric cost of artillery shell production, the size of the Russian military versus that of Ukraine, and the big gap in “war enthusiasm” in the two countries, the entrepreneur concluded that “while seeking to weaken Russia we [the West] only weaken ourselves.”

Regarding “a baseline” for peace, Russia has indicated time and again that it is willing to hold discussions. However, the Kiev regime, acting on the advice of then-UK Prime Minister Boris Johnson, placed a legislative moratorium on such talks after sabotaging the 2022 Russian-Ukrainian negotiations in Istanbul. He went on to say that the West ignores Ukraine’s persistent refusal to have talks.

Vladimir Putin, according to Kremlin spokesman Dmitry Peskov, “has stated numerous times that Russia was, is, and will continue to be open for negotiations on Ukraine.”

“We are determined to reach our goals. And would prefer to complete it by diplomatic means. If not, the special military operation will be continued till we reach our goals,” Peskov emphasized.

Putin, for his part, has stated that Kiev’s edict banning talks with Russia must be revoked and that performative gestures are not the way to begin a negotiating process with Russia. The Russian president claims that Moscow has never opposed a peaceful resolution of the Ukraine crisis but rather insists on the adherence of Russia’s security assurances.