Sear the Beef:
Heat olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat.
Toss beef pieces with flour, shaking off excess.
Sear beef in batches until browned on all sides (about 5–6 minutes). Set aside.
Sauté Aromatics:
In the same pot, add onion, garlic, and tomato paste.
Sauté for 2–3 minutes until onions soften and tomato paste deepens in color.
Add Vegetables & Broth:
Stir in carrots, potatoes, and celery.
Return browned beef to the pot.
Pour in beef broth, Worcestershire sauce, and (if using) red wine.
Add bay leaf, thyme, salt, and pepper. Stir well.
Simmer:
Bring to a gentle boil, then reduce heat to low.
Cover loosely and simmer for 45–60 minutes, stirring occasionally, until beef and veggies are tender.
(For deeper flavor, simmer up to 2 hours.)
Thicken Stew:
Remove lid for the last 15 minutes to reduce and thicken.
For extra thickness, stir in a slurry of 1 tbsp cornstarch mixed with 2 tbsp water.
Finish & Serve:
Stir in frozen peas during the last 5 minutes of cooking.
Taste and adjust seasoning as needed.
Remove bay leaf. Garnish with fresh parsley before serving.