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In a large pot or Dutch oven, heat olive oil over medium-high heat. Season beef cubes with salt and pepper. Brown the meat in batches, making sure not to overcrowd the pot. Remove and set aside.
Sauté aromatics:
In the same pot, add the diced onion and cook until soft (about 5 minutes). Stir in the garlic, tomato paste, thyme, and rosemary; cook for 1 more minute.
Add flour and deglaze:
Sprinkle in the flour and stir well to coat the onions. Cook for 1 minute, then slowly add the red wine (if using), scraping up browned bits from the bottom.
Simmer the stew:
Return the beef to the pot. Add carrots, celery, potatoes, bay leaf, and beef broth. Bring to a boil, then reduce heat, cover, and simmer for 1.5 to 2 hours or until the beef is fork-tender and the broth has thickened.
Finish and serve:
Discard bay leaf. Adjust seasoning with salt and pepper. Sprinkle chopped fresh parsley on top before serving.
Serving and Storage Tips
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