Matthew 26.26-29: Now as they were eating, Jesus took bread, and after blessing it broke it and gave it to the disciples, and said, “Take, eat; this is my body.” (27) And he took a cup, and when he had given thanks he gave it to them, saying, “Drink of it, all of you, (28) for this is my blood of the covenant, which is poured out for many for the forgiveness of sins. (29) I tell you I will not drink again of this fruit of the vine until that day when I drink it new with you in my Father’s kingdom.” (ESV)
During this time in the upper room, Jesus celebrated the Passover meal with His twelve disciples. And during the Passover observance, Jesus led the disciples through what is referred to as the Lord’s Supper, or Communion. I would like to focus on one part of this observance, the teaching of Jesus about His blood. His blood would be poured out the next day on the cross.
Jesus told His disciples that by the pouring out of His blood, He establishes the New Covenant. There is forgiveness of sins only by His blood. Accordingly, no other sacrifices, or rituals or religious observances will produce forgiveness of sins for anyone. Salvation and restoration to God the Father are only through Jesus and the New Covenant He established by His death on the cross.
And by this New Covenant, every person who will put his or her trust in Jesus as Savior will receive the forgiveness of sins and the promise of eternal life.

