He said: “If Russia decides to invade, that will also have consequences here at home.
“But the American people understand that defending democracy and liberty is never without cost.”
Mr Biden, who has been well known for his bipartisanship approach during his long political career, said this was an issue that united Democrats and Republicans.
He said: “This is a cause that unites both Republicans and Democrats.
“I want to thank the leaders of congress of both parties.
“Who have forcefully spoken out.
“In defence of our most American principles.”
Mr Biden concluded by outlining the steps his administration would take if a Russian invasion led to an increase in energy prices.
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However, he has emphasised that a diplomatic solution was still a possibility.