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Step 1
Sprinkle brisket all over with salt, pepper and paprika. Select Sauté setting on a programmable pressure multicooker (such as Instant Pot; times, instructions and settings may vary according to cooker brand or model). Select High temperature setting; add oil to the cooker and allow to preheat for 2 to 3 minutes. Add 1 brisket piece; cook until well browned, about 7 minutes per side. Remove from the cooker; repeat the process with the remaining brisket piece. Add onions and garlic to the cooker; cook, stirring occasionally, until starting to brown, about 4 minutes. Add broth, ketchup and tomato paste, scraping the bottom of the cooker pot to loosen browned bits. Return the brisket to the cooker. Press Cancel.
Step 2
Cover the cooker and lock the lid in place. Turn the steam release handle to Sealing position. Select Manual/Pressure Cook setting. Select High pressure for 60 minutes. (It will take 10 to 12 minutes for the cooker to come up to pressure before cooking begins.) When cooking is complete, let the pressure release naturally for 10 minutes. Before removing the lid from the cooker, carefully turn the steam release handle to Venting position and let the steam fully escape (the float valve will drop; this will take 2 to 3 minutes).
Step 3
Remove the brisket to a cutting board; let rest for 10 minutes. Meanwhile, blend the onion mixture in the cooker with an immersion blender until very smooth, about 30 seconds.
Step 4
Remove and discard the fat cap from the brisket. Slice the brisket against the grain; return the slices to the sauce in the cooker. Cover the cooker and lock the lid in place. Turn the steam release handle to Sealing position. Select Manual/Pressure Cook setting. Select High pressure for 3 minutes. (It will take 10 to 12 minutes for the cooker to come up to pressure before cooking begins.) When cooking is complete, let the pressure release naturally for 10 minutes. Before removing the lid from the cooker, carefully turn the steam release handle to Venting position and let the steam fully escape (the float valve will drop; this will take 2 to 3 minutes). Arrange the brisket slices on a platter; spoon the onion sauce over the brisket and serve.