The COVENANT is STILL IN EFFECT because: 1. that Nation still exists, and 2. those Terms are still being enforced!
The People of the Covenant have always existed as a Nation on earth. Though they may have disappeared from this world’s mainstream history books, God has promised to preserve them as a nation forever.
Jer 31:35-37 35 Thus says the LORD, Who gives the sun for light by day And the fixed order of the moon and the stars for light by night, Who stirs up the sea so that its waves roar; The LORD of hosts is His name: 36 “If this fixed order departs From before Me,” declares the LORD, “Then the offspring of Israel also will cease From being a nation before Me forever.” 37 Thus says the LORD, “If the heavens above can be measured And the foundations of the earth searched out below, Then I will also cast off all the offspring of Israel For all that they have done,” declares the LORD.
And whether they know it or not, that Nation is still being governed by the Terms of that Covenant.