So, my brothers and sisters, you also died to the law through the body of Christ, so that you could be joined to another, to the one who was raised from the dead, to bear fruit to God. Romans 7.4
It is not under the old covenant that we are living. We live through Jesus and are a part of his body. Paul was writing to the Christians in Rome. He made it clear that they were no longer under the law of Moses.
Merely living their physical lives, sinful passions were awakened. The law brought knowledge of what was defined as sin which bore fruit for death.
However, upon becoming a Christian, we are dead to the law and belong to Christ. The fruit that we bear is for God. Jesus makes it possible for us to have life and be freed from our sinful nature. His blood washes us clean and makes us holy.