Heat the olive oil in a large pot over medium heat. Add the beef cubes and brown them on all sides. This helps deepen the flavor.

Once the beef is browned, stir in the chopped onion and minced garlic. Cook for about 3–4 minutes until softened.

Add the tomato paste, dried thyme, salt, and black pepper. Stir to coat the beef and aromatics.

Pour in the beef broth, then add the bay leaves. Bring the mixture to a boil.

Once boiling, reduce to low heat. Add the sliced carrots and diced potatoes. Cover and let simmer for 2–3 hours, until the beef is tender and flavors are melded.

Near the end of cooking (last 10 minutes), stir in the peas (if using). Remove bay leaves before serving.

Serve hot, ideally with crusty bread, rice, or mashed potatoes. Enjoy your stew!