01 - Heat vegetable oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Season the beef cubes generously with salt and black pepper. Working in batches to avoid crowding, sear the beef on all sides until a deep golden-brown crust forms, about 3-4 minutes per batch. Transfer the browned beef to a plate and set aside.
02 - Reduce heat to medium. Add the chopped onion and minced garlic to the pot, sautéing until the onion is soft and translucent, approximately 3 minutes. Sprinkle in the flour and stir in the tomato paste, cooking for 1 minute to remove the raw flour taste and deepen the tomato flavor.
03 - Slowly pour in the dry red wine, using a wooden spoon to scrape up all the caramelized browned bits from the bottom of the pot. Return the seared beef and any accumulated juices back to the Dutch oven. Add the sliced carrots, diced potatoes, sliced celery, beef stock, bay leaves, dried thyme, and paprika. Stir everything together until well combined.
04 - Bring the mixture to a full boil, then immediately reduce the heat to low. Cover the pot with a tight-fitting lid and let the stew simmer gently for 2 hours, stirring occasionally to prevent sticking and ensure even cooking.
05 - Remove the lid and stir in the frozen peas. Continue simmering uncovered for an additional 15 minutes, or until the beef is fork-tender, the vegetables are cooked through, and the broth has thickened to your desired consistency.
06 - Discard the bay leaves. Taste the broth and adjust the seasoning with additional salt and black pepper as needed. Ladle the hot stew into bowls and serve immediately, accompanied by crusty bread or buttered noodles if desired.