What does 'It is finished' signify in relation to sin?

'It is finished' encapsulates the finality of Jesus' atoning work for sin. The phrase indicates that every aspect required for the remission of sin was accomplished at the cross. According to Romans 6:23, the wages of sin is death—something that Jesus bore for all who trust in Him. By declaring it finished, He underscores that the debt owed to God due to our sin has been paid in full, establishing a new covenant founded in His blood, which assures believers of eternal life and reconciliation with God. Hence, no further sacrifices are needed, as His finished work suffices completely.