Paul is marking a stark contrast before the Ephesians believed in Christ and after they believed in Christ.
## you who were once far away from God have been brought near to God ##
Due to the believers sins, they were separated far from God. However, now Jesus has brought them near to God by his blood.
## he is our peace ##
"Jesus gives us his peace"
## By his body ##
"By his death on the cross"
## the wall of hostility ##
"the wall of hatred" or "ill will"
## divided us from each other ##
"us"refers to both Paul and the Ephesians, that separated the Jewish believers from the Gentile believers. (See [[rc://en/ta/man/translate/figs-inclusive]])
## he abolished the law of commandments and regulations ##
Jesus's blood satisfied the mosaic Law so that both the Jews and gentiles can live at peace in Him.
## to reconcile both peoples ##
"bring together both the Jews and the Gentiles"
## putting to death the hostility between them ##
Jesus eliminated the reason for Jews and Gentiles to be hostile towards each other. That is they were no longer required to live according to the Mosaic Law.