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As a matter of fact no, it really does not. This is quite exactly the reason it was set up in the first place
If your court system set up exclusively to investigate egregious cases of war crimes has something better to do than issuing arrest warrants against the perpetrators of particularly egregious war crimes then it probably has some skewed priorities
https://www.politico.eu/article/vladimir-putin-to-dodge-summ...
And for the record, Putin is no bear, he's a yet another street coward who can only bully the weaker ones. If ICC means shit and he's such a bear, why doesn't he travel to any country which adheres to ICC rulling? A coward murderer and he knows it, that's why.