Therefore, there is now no condemnation for those who are in Christ Jesus, because through Christ Jesus the law of the Spirit who gives life has set you free from the law of sin and death. For what the law was powerless to do because it was weakened by the flesh, God did by sending his own Son in the likeness of sinful flesh to be a sin offering. And so he condemned sin in the flesh, in order that the righteous requirement of the law might be fully met in us, who do not live according to the flesh but according to the Spirit.-Romans 8:1-4
When you choose to accept Jesus’ perfect sacrifice for your sins and come under the protection of the blood of his perfect sin offering you are no longer condemned for your sins. The word condemned means that you have been founded guilty of committing some act and are now receiving the punishment for that act. The punishment for our sins is death. Paul wrote earlier in his letter to the Roman church these words, “For the wages of sin is death, but the gift of God is eternal life in Christ Jesus our Lord” (Romans 6:23 NIV). Paul is simply expanding on this in the first 4 verses of Romans 8. Because the law (the Old Covenant) was powerless to permanently forgive sins. The law required yearly sacrifices to make atonement for sins. But with the death, burial and resurrection of Jesus all of the requirements of the law (the Old Covenant) were met. The New Covenant that Jesus instituted with his perfect sacrifice does not require a yearly offering of a bull or a goat to atone for your sins, because his perfect sacrifice covered all of your sins past, present and future.