Three-Way Cold War from early 1940s

Is there ever a possibility of a three way Cold War between the Western Powers (specifically the British Empire/UK and possibly the US depending on how the elections go), the Axis (+puppets) and the USSR? I'm a noob when it comes to reading alternative history and aside from reading through CCA's Axis China timeline I have very little experience here.

After Dunkirk I'd imagine Operations Sealion and Green would be laughed off and shelved very quickly by the Axis as fantasy rhetoric and instead the UK is brought to an armistice/peace terms to remove them as an immediate threat since the public sentiment might lean towards avoiding another drawn out conflict with the Great War still in memory. Perhaps the BoB could still fail but the Blitz damages morale enough that people tire of the war? Germany doesn't invade the USSR and instead uses its partition of Poland as a buffer between the Soviets and the Fatherland.

Japan realises a war with the US would not end favourably at this point in time and instead sets its sights on East Asia with China in the scope of focus. The Dutch East Indies and possibly French Indochina are absorbed into the Greater East Asia Co-Prosperity sphere while resources are funneled into nationalist/pro-japan movements within the British Empire's colonial holdings to erode its influence and set the stage for a later assimilation.

Spain and Turkey remain on good terms with the EuroAxis for trade without being tied into any military commitments while Puppet!France serves as a buffer between Germany and the UK/US. I don't imagine it would be able to hold onto its colonial holdings and independence for these might later ensue.

The Axis make plans for some form of later conflict/clash with the USSR and I assume the Soviets focus on pumping resources into the Chinese Communists and reinforcing their Western Borders and possibly Vladivostok, but for the time being the only battles taking place are at the diplomatic tables and within the web of espionage ongoing between the Anglosphere, the Axis Powers and the Comintern.

This was just a bit of spitballing on my part whilst bored - does any of it look like it would be feasible?
 
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Get rid of the Japanese Empire and avoid the Sino-Soviet Split,So the if Soviets were to ally with the West,China would ally with Germany leading to a risk of a Two front war. Also having a United India allied with the United States which switch to Germany if United States goes with the Soviet Union would Help.

In this Scenario you have tensions between the Fascist bloc and the Capitalist bloc over the Atlantic, tensions between the Fascist bloc and Communist bloc over Eastern Europe, and tensions between the Capitalist bloc and Communist bloc over Central Asia and the Pacific preventing the three from becoming the Two.
 
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France serves as a buffer between Germany and the UK/US. I don't imagine it would be able to hold onto its colonial holdings and independence for these might later ensue.
France will be a German puppet.

Germany doesn't invade the USSR and instead uses its partition of Poland as a buffer between the Soviets and the Fatherland.
You could have a longer Balkan campaign which leads to operation Barbarossa to be indefinitely delayed

instead the UK is brought to an armistice/peace terms to remove them as an immediate threat since the public sentiment might lean towards avoiding another drawn out conflict with the Great
If Britain makes peace with Germany. Germany doesn't have a reason not to attack the Soviet Union.
 
You could have a longer Balkan campaign which leads to operation Barbarossa to be indefinitely delayed. If Britain makes peace with Germany. Germany doesn't have a reason not to attack the Soviet Union.

Without US involvement in the war and/or lend-lease would Germany/the Axis powers have had a reasonable chance of making significant gains against the USSR? Along the lines of Japan wrecking the Trans-Siberian Railway and stealing Vladivostok while Germany and co. (Italy, Finland and possibly collected manpower from puppet states and volunteers from Spain) press in from the west? Or would this delay have given the Soviets sufficient opportunity to recover from the purges and prepare for a conflict with GLORIOUS NIPPON and the Wehrboos.
 
Without US involvement in the war and/or lend-lease would Germany/the Axis powers have had a reasonable chance of making significant gains against the USSR?
Yes

Or would this delay have given the Soviets sufficient opportunity to recover from the purges and prepare for a conflict with GLORIOUS NIPPON and the Wehrboos.
If your going with the standard peace at Dunkirk no, but they might have a better defense strategy
 
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