How does the concept of 'new creation' in 2 Corinthians 5:17 relate to the Old Testament idea of covenant renewal?

A It completely disregards the Old Testament covenants and establishes a new religious system. B It fulfills the promises of the Old Testament covenants through Christ, offering a renewed relationship with God. C It only applies to Jewish believers and has no relevance for Gentile Christians. D It refers solely to the physical resurrection of believers at the end of time.