The Russian translation traditionally used on peace poles has been this.
Perhaps it was an attempt to create a word for word translation of the Engslish phrase, which is not usually the best approach in any language. Literally it says "Let there be peace for the humanity in the entire world."
Besides sounding odd to Russians, it is too long for me to cut in metal without exceeding the lengths of the surrounding translations by a large margin. And longer than desirable for engraving in stone. So I got a native speaker who works as a translator to work on a new one.
This second translation means "Let there be peace on earth." To be grammatically correct in Russian that sentence must be followed by an exclamation point as shown.
This second one sounds right to Russians and is the one I use on peace poles unless otherwise requested.
I update translations as times change and the way people express things change.