Yes, such geopolitical conflicts have a very strong impact on the markets. Sanctions against Russia have an impact on the ruble and other currencies of the countries involved in the conflict. The conflict also affects global inflation and economic growth, which can affect the monetary policies of various countries.
There was some great braggart talk by that US leader with dementia and Harris about the Ruble being down to a penny and Putin was finished... he was done... he was on his knees they said (years ago). Let me tell you something smart guy, the Kremlin is a long way from being down on its knees just yet.