01 - Heat vegetable oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Season beef cubes with salt and pepper. Brown beef in batches to avoid crowding, transferring each batch to a plate once seared on all sides.
02 - Reduce heat to medium. Add chopped onion and minced garlic to the pot; sauté until softened, about 3 minutes. Stir in flour and tomato paste, cooking for 1 minute to form a roux and deepen the flavor.
03 - Gradually pour in the dry red wine, scraping up any browned bits from the bottom of the pot. Return the browned beef to the pot. Add sliced carrots, celery, diced potatoes, beef stock, bay leaves, dried thyme, and paprika. Stir everything together until well combined.
04 - Bring the mixture to a boil, then reduce heat to low. Cover with a lid and simmer for 2 hours, stirring occasionally to prevent sticking and ensure even cooking.
05 - Remove the lid, stir in the frozen peas, and continue simmering uncovered for an additional 15 minutes, or until the vegetables and beef are fork-tender and the broth has thickened to your desired consistency.
06 - Remove and discard the bay leaves. Taste the stew and adjust seasoning with additional salt and pepper as needed. Ladle into bowls and serve hot.