Step 1

Heat the vegetable oil in the pot over medium heat (Sauté mode set to medium in an Instant Pot) until the oil shimmers. While the pot heats, sprinkle the beef cubes with 1 teaspoon salt. Add 1/3 of the beef in a loose single layer and sear until well browned on one side, about 3 minutes. (Don’t crowd the pot or the beef will steam, not brown). Transfer the browned beef to a bowl, add half of the remaining beef to the pot, and sear until browned on one side, about 3 more minutes. Transfer the browned beef to the bowl. Add the rest of the beef to the pot and sear until browned on one side, about 3 more minutes. Transfer the browned beef to the bowl.

Step 2

Add the onion and garlic to the pot, and sprinkle with the dried thyme and 1/2 teaspoon salt. Stir the tomato paste into the onions. Sauté until the onions soften, about 5 minutes, scraping the bottom of the pot occasionally to loosen any browned bits of beef. Pour the red wine into the pot, bring to a simmer, and simmer for 1 minute. Scrape the bottom of the pot again to release any browned onions or tomato paste.

Step 3

Stir in the beef and any juices in the bowl. Pour in the beef broth, carrots, and diced tomatoes, and stir.

Step 4

Lock the lid on the pressure cooker. Cook at high pressure for 15 minutes in an electric pressure cooker (“Manual” or “Pressure Cook” mode in an Instant Pot), or for 12 minutes in a stovetop PC. Let the pressure come down naturally, about 20 more minutes. (If you’re in a hurry, you can quick release any remaining pressure after 15 minutes.) Remove the lid, tilting it away from you to avoid the hot steam.

Step 5

Whisk the water and cornstarch together to make a cornstarch slurry, and then stir the slurry into the stew. Stir in salt and pepper: If you used store-bought beef broth, add ½ teaspoon of fine sea salt; if you used homemade beef broth or water, add 1½ teaspoons of fine sea salt. Also, add 1/2 teaspoon of fresh ground black pepper. Serve and enjoy!