Who will bring any charge against those whom God has chosen? It is God who justifies. Who then is the one who condemns? No one. Christ Jesus who died–more than that, who was raised to life–is at the right hand of God and is also interceding for us.
The beginning of this passage, Romans 8:31, is one of my favorite verses: If God is for us, who can be against us?
When we talk about the Law of Sin and Death we have to look back to the Jewish Law and the strict guidelines (though mercifully given by a perfect God to an imperfect people with precise directions instead of wishy-washy ways) of the Mosaic Law.
When Jesus came as the perfect eternal sacrifice on the cross to atone (cover) our sins, we were freed from the Law. This does not mean the Law was bad. This does not mean that we are free to be as sinful as we want. This means that God, in His perfect love, saw that we had defects that would keep us forever apart from Him. Our God knew from the day of the Fall (from day 0, I’m sure) that we would need a redeemer. God gave us a Savior in the form of His only begotten son, Jesus.
This means that the price for our sins has been paid in full. We no longer go to alters or sacrifices, but instead have bodies which are living sacrifices and temples to the Holy Spirit. No man can look down on us with his own ideology and condemn us–brothers and sisters in Christ can use the word of God to point out a fellow Christians area of struggle and offer support in that area with love knowing a life apart from a sinful habit is far better and freeing that one where we are tied to sin’s bondage.
This verse means we have security in our salvation knowing that God will fight for us and with us. What will He hold back on giving to us in this manner when He has already given us His Son? Nothing. There is nothing keeping us apart from God and His love for us.