The Political Situation.

GB

Great Britain have suffered a defeat in mainland.,but is as determined as ever to continue the fight.Like Herr Admiral stated the Royal Navy and RAF are ready to defend Britain from any invasion at this point.On other case the Mediterrranian is lot more vulnerable to our attacks.

Suggestion for Strategy towards GB

There should be three main lines of Operations against GB in order to stand victorious in the end.Also there are many variables that can destroy our Strategy.
First priority should be to take actions in Mediterranian theatre to cut of Britain from her colonies.And also divide the Royal Navy so its more easy to defeat. We should make sure to conquer the Mediterranian strategig islands in order to launch invasion to Suez and Gibraltar.The capture of these locations could be enough for peace in best situation,without more Operations.In order to be succesfull we need to capture the French fleet as soon as possible.And also keep Italy on tight leech so their renegade actions wont harass our bigger plans.

Second Priority should be to start building an invasion fleet against Britain herself .If we wouldnt even succeed on building fleet big enough it should anyway restrict large parts of Royal Navy to protect Britain herself and by that cancelling the reserve of the Mediterranian fleet.

Third Priority should be to sink as many tons as possible in Atlantic.

Soviet Union

Soviet Union is the largest military power in the world at this time,atleast on paper.We have the Ribbentrop pact with Stalin and it should secure us peace for couple years,but not if the Soviets think we are weak.The Winter War against Finland shoved that while Soviets have great material army.But The Stalins purges in 1930´s have made the pool of capable officers very thin.And that should guarantee that at this point while Soviets have the men and equipment necessary to invade us,they dont have enough Leadership to prevail on their campaign.

Suggestion of Strategy against SU

In my opinion we should not agitate Soviet Union.We still have lot of small states between us and them except in Poland.But it would turn out impossible for Soviets to attack strictly in Poland.There just wouldnt be enough Operational space for Red Army. Also if they would attack in other routes.There are lot of Independent States between us and them that have good relations towards West.Including from South.Romania.Bulgaria,Creece,Yugoslavia,Hungary,Finland and Sweden.
Now if SU would launch a campaign against these countries.If not GB,the US would see them as worst threat then us and if we are victorius in our Campaign against GB,the US could force GB to peace talks with us. So in one sentence: If we are thinking of winning this war,we must not attack Soviet Union before GB has made peace with us or surrendered.We can spare great amount of troops against GB while depoying in defence against SU.But if we attack SU,we wont have enough troops for both fronts.

US

In my perspective US is a sleeping giant that should not be awaken if its not absolutely necessary.Their industrial capacity is huge and while they are already supplying GB.We should try to remain as neutral as possible when considering any straight forward confrontation against US.That is the reason i dont recommended any Strategy against US at this moment.

The Buffer Countries

Romania,Bulgaria,Creece,Yugoslavia,Hungary,Finland and Sweden.
These countries are between two Juggernauts. At this point it seems that majority of them are more or less leaning towards us.These countries include: Romania,Bulgaria,Hungary and Finland. Creece is allied with GB and Yugoslavia and Sweden are the most Neutral of these.

Strategy against Buffer countries

In my mind we should support the countries that are leaning towards us.And pressure the Neutrals to start leaning towards us in fear of SU. This leaves us with Creece.Creece is allied with British and we should think her as our enemy.
The Creek mainland is not essential to our goals,but the Mediterranian islands including Cretes are if we attack GB on mediterranian.We could bypass the mainland or Conquer it if necessary.We have land connection from Albania provided by Italy so it shouldnt be hard to take Creece. Altough once again the coordination with Italians is essential and the "short leech" with Italy is essential.