01 - Heat vegetable oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Season the beef cubes with salt and pepper. Working in batches to avoid overcrowding, sear the beef on all sides until deeply browned. Transfer each batch to a plate and set aside.
02 - Reduce heat to medium. Add the chopped onion and minced garlic to the pot, sautéing until softened, about 3 minutes. Stir in the flour and tomato paste, cooking for 1 minute to form a roux and cook off the raw flour taste.
03 - Gradually pour in the dry red wine, scraping up any browned bits from the bottom of the pot. Return the seared beef and any accumulated juices back to the pot. Add the carrots, celery, potatoes, beef stock, bay leaves, dried thyme, and paprika. Stir everything to combine evenly.
04 - Bring the mixture to a boil, then immediately reduce the heat to low. Cover with a lid and let simmer gently for 2 hours, stirring occasionally to prevent sticking and ensure even cooking.
05 - Remove the lid and stir in the frozen peas. Continue simmering uncovered for an additional 15 minutes, or until the vegetables and beef are fork-tender and the broth has thickened to your desired consistency.
06 - Discard the bay leaves. Taste the broth and adjust seasoning with additional salt and pepper as needed. Ladle into bowls and serve hot with crusty bread or over buttered noodles.