Step 1: Season the beef cubes generously with salt and pepper. In a large Dutch oven, heat the olive oil over medium-high heat.
Step 2: Sear the beef in batches until browned on all sides. Remove the beef and set aside on a plate.
Step 3: In the same pot, add the chopped onion and cook until softened, about 5 minutes. Add the minced garlic and tomato paste, cooking for another 2 minutes.
Step 4: Sprinkle the flour over the vegetables and stir constantly for 1-2 minutes to cook out the raw flour taste.
Step 5: Pour in the red wine to deglaze the pan, scraping up all the brown bits from the bottom. Let the wine reduce by half.
Step 6: Return the beef and any accumulated juices to the pot. Add the beef broth, bay leaves, thyme, and rosemary.
Step 7: Bring the mixture to a boil, then reduce the heat to low. Cover and simmer for 1 hour and 45 minutes.
Step 8: Add the carrots and potatoes to the pot. Cover and continue to simmer for another 45-60 minutes, or until the beef and vegetables are fork-tender.
Step 9: Stir in the frozen peas if using and cook for 5 more minutes. Taste and adjust seasoning with salt and pepper.
Step 10: Discard the bay leaves and garnish with fresh parsley before serving hot.