The State of Israel is NOT the Israel of God. The Church is.

So do you believe that Old Testament covenant from God with the Israelites is still valid, or not?

This is already being realized as the Church grows and the Gospel spreads to all nations and it will be fully consummated by the return of Christ, bringing the new heaven and a new earth.

Your view on this matter comes mostly from popular dispensationalism and cultural christianity (which is not Biblical Christianity).

If you really want to learn more, do some research on Covenant Theology vs Dispensationalism.