Work #1 of God in the New Birth: God ransomed us by the blood of Jesus.
"Eternal life isn't possible for enslaved sinners without a ransom being paid."
"knowing that you were ransomed from the futile ways inherited from your forefathers, not with perishable things such as silver or gold,but with the precious blood of Christ, like that of a lamb without blemish or spot." (I Peter 1:18-19 ESV)
The wrath of God must be satisfied; God sent Jesus to do that. "...by sending His own son..." (Romans 8:3) "Christ redeemed us..." (Galatians 3:13)
The ransom is imperishable; it can never lose its redeeming power.
(Adapted from Finally Alive by John Piper, available free on Desiring God)