Steps
1. Preheat the oven to 325°F (165°C).
2. Season the beef with salt and pepper.
3. Heat the olive oil in a large oven-safe skillet or Dutch oven over medium-high heat. Sear the beef on all sides until browned. Remove the beef from the skillet and set aside.
4. In the same skillet, add the onion, carrots, and garlic. Cook until the vegetables are softened.
5. Add the red wine to deglaze the skillet, scraping up any browned bits from the bottom. Cook for a few minutes to reduce the wine.
6. Stir in the beef broth, tomato paste, thyme, and bay leaf. Return the beef to the skillet.
7. Cover the skillet with a lid or aluminum foil and transfer to the preheated oven. Cook for about 2 hours or until the beef is tender.
8. Remove the beef from the skillet and let it rest for a few minutes. Slice the beef and serve with the red wine sauce and roasted vegetables.