New Delhi, Mar 2 (IANS): US President Joe Biden has condemned Russian President Vladimir Putin's invasion of Ukraine -- and warned of further measures to punish Russia, CNN reported.

"Tonight, I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime, no more," Biden said during his State of the Union address on Tuesday as he announced a new task force under the US Justice Department to investigate Russian oligarchs.

"We are joining with our European allies to find and seize their yachts, their luxury apartments, and their private jets. We are coming for your ill-begotten gains," he said, CNN reported.

The US is also closing its airspace to Russian aircraft, joining a number of countries that took similar measures this past week, "further isolating Russia," Biden said.

He then added, referring to Putin: "He has no idea what's coming."

"Putin has unleashed violence and chaos. But while he may make gains on the battlefield -- he will pay a continuing high price over the long run," Biden said.

Biden noted that Putin's aggression had only made the world's democracies strengthen their resolve to counter rising autocracies.

"Six days ago, Russia's Vladimir Putin sought to shake the foundations of the free world, thinking he could make it bend to his menacing ways. But he badly miscalculated," Biden said.

"He thought he could roll into Ukraine and the world would roll over. Instead he met a wall of strength he never imagined. He met the Ukrainian people", CNN reported.