The U.S. Department of Justice is assembling a task force "to go after the crimes of Russian oligarchs," US President Joe Biden said in his annual address to Congress.

"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden was quoted as saying by The Wall Street Journal. "We are coming for your ill-begotten gains."

The Justice Department is expected to step up its efforts to investigate whether assets of some oligarchs could be linked to illicit activity, which would allow the U.S. government to perform seizures, WSJ said.

Biden didn't elaborate on the Justice Department's task force and department spokespeople did not immediately provide details, WSJ said.