President of France Emmanuel Macron appears to be preparing the stage for future peace talks.  Chancellor of Germany Olaf Scholz is maintaining a channel of communication with President Putin, stressing the importance of a continuing dialog.   President Biden has stated that he is open to negotiations and will do so after consulting with his NATO allies, provided that President Putin commits to peace talks.

https://www.youtube.com/watch?v=40g2m3vsUGc

https://www.youtube.com/watch?v=lork5ZK-zw8

Ukraine is still full of resolve to take back all of its territory and it is still unclear what would bring Ukranians to the negotiating table.  This is seconded by concerns of Russia's western neighbors about de-facto letting Russia win the war, if peace negotiations start now.

It is clear that former border subjects of the Russian Empire do not want to see an emboldened and thus continuously belligerent Russian state with reinforced imperial ambitions.  Can concerns of Eastern European nations about tyranny of the old imperial center be properly taken into account during the peace talks?  To satisfy their legitimate concerns there will have to be security guarantees from both sides of the negotiating table.  What can Moscow offer in return to NATO taking a step back from its borders?  Almost certainly it will have to pay reparations (perhaps in the form of providing capital and labor for rebuilding Ukraine's infrastructure as well as payments to families of killed and injured civilians and military personnel).  And, most definitely a set of bounding treaties must be signed between the Russian Federation and Eastern Nations (as well as NATO) to guarantee that no other war will ever break out in Eastern Europe.

The peace process is now in the hands of the nations guaranteeing security of Europe and the world as a whole.  It is now time to build international consensus on what post war North of the planet will look like.  Concerns of second and third tier nations in the world security order must be taken into account for everlasting peace in the North.