The New Testament makes a clear distinction between the covenants of the Mosaic Law and the covenant of Promise. The apostle Paul spoke of these "two covenants," one originating "from Mount Sinai," the other from "the Jerusalem above" (Gal. 4:24-26). Paul also argued that the covenant established at Mount Sinai was a "ministry of death" & "condemnation" (2 Cor. 3:7, 9).
The death of Christ ushered in the new covenant under which we are justified by God's grace and mercy—it is now possible to have the true forgiveness of sins through obedience to God through baptism. Jesus Himself is the Mediator of this better covenant between God and man (Heb. 9:15). Jesus' sacrificial death served as the oath, or pledge, which God made to us to seal this new covenant.
The "new covenant" is the new agreement God has made with mankind, based on the death and resurrection of Jesus Christ. The concept of a new covenant originated with the promise of Jeremiah that God would accomplish for His people what the old covenant had failed to do (Jer. 31:31-34; Heb. 11:7-13). Under this new covenant, God would write His Law on human hearts.
When Jesus ate the Passover meal at the Last Supper with His disciples, He spoke of the cup and said, "this is My blood of the new covenant, which is shed for many for the remission of sins": (Matt. 26:28). Luke's account refers to this cup as symbolizing "the new covenant in My blood, which is shed for you" (Luke 22:20).
When Paul recited the account he had received concerning the Last Supper, he quoted these words of Jesus about the cup as "the new covenant in My blood" (1 Cor. 11:25).
The Epistle to the Hebrews gives the new covenant more attention than any other book in the New Testament. It quotes the entire passage from Jeremiah 31:31-34 (Heb. 8:8-12). Jesus is referred to by the writer of Hebrews as "the Mediator of the new covenant" (Heb. 9:15; 12:24). The new covenant, a "better covenant ... established on better promises" (Heb. 8:6), rests directly on the sacrificial work of Christ.
The new covenant accomplished what the old could not, i.e., the removal of sin and cleansing of the conscience (Heb. 10:2, 22). The work of Jesus The Christ on the cross thus makes the old covenant "obsolete" (Heb. 8:13) and fulfills the promise of the prophet Jeremiah.
Unlike the Mosaic covenant, the new covenant of Jesus The Christ is intended for all mankind—regardless of race. In the Great Commission Jesus sent His apostles into the entire world so they could tell the story of the cross (Luke 24:46-47; Matt. 28:18-20). The gospel call extends to every man and woman today!