Today, the Court of Arbitration for Sport upheld the ban, which was issued by the IAAF last November.
The punishment was implemented following allegations of widespread doping and cover-ups by Russian athletes at the London 2012 Olympics.
Ahead of Friday's Anniversary Games in the UK capital, Bolt gave his reaction to the ban, telling reporters: "For me, if you have the proof and you catch somebody, I definitely feel you should take action. If you feel like banning the whole team is the right action, then I'm all for it.
"Rules are rules and doping violations in track and field [are] getting really bad, so if you feel like you need to make a statement, and this is how you feel like you need to make a statement, then thumbs up."
Meanwhile, the International Olympic Committee is planning to announce next week whether the ban will extend to all Russian athletes following accusations of a state-sponsored doping programme for the 2014 Winter Games in Sochi.