Resident Evil: Vendetta is a new CGI movie and third to be set in the RE games universe. While the movie is only set for a release in Japan in May at the moment, fans of the lore will be happy to know that Chris Redfield and Leon Kennedy are together again, joined by the long-lost Rebecca Chambers.
The movie - also known as Biohazard: Vendetta - picks up between Resident Evil 6 and Resident Evil 7: biohazard and is designed to bridge the gap between the two. The plot has Chris seeking the help of Leon and professor Chambers to stop a madman from releasing something called The Trigger Virus in New York City. Rebecca hasn't been seen for some time, last seen back in Resident Evil Zero in 2002. The movie has her in the RE1 garb for the 1996 game.
Capcom has called the movie a reboot, but it is definitely a sequel to the previous two films - Degeneration in 2008 and Damnation in 2012 - but with a different tone than the previous two. The movie has no correlation to the live-action films starring Milla Jovovich.
It will be interesting to see if the film foreshadows RE7 in any way, given that the game was more of a standalone than tied to any particular timeline from the series. Even if it doesn't, Capcom is still planning to continue the RE7 story with the Not a Hero DLC.