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In a large bowl, mix soy sauce, red wine and mustard. Add the beef and 3 sliced onions, mix with your hands making sure the beef is coated in the marinade. Cover with plastic wrap and set in the fridge to marinate for 2-3 hours. Remove from the fridge 30 minutes before cooking, discard the onions and the liquid.
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In a large dutch oven over medium-high heat, brown meat in hot oil, until golden brown. If needed brown in layers. Once you add the beef to the pot, don't stir for 2 minutes, so it gets a nice sear.
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Remove browned beef from pot and set aside.
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Add water to the pot and deglaze, using a wooden spoon to try to remove and bits that stuck to the bottom.
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Add the remaining diced onion and garlic, stir and cook for about 1 minutes.
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Add back the beef, followed by tomato paste, beef broth, Worcestershire sauce, salt, pepper, paprika and bay leaves.
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Cover and simmer on low for 1½ hours.
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Add sliced carrots and bell peppers. Cover and cook for 30 to 40 minutes longer on low heat. Taste and adjust for salt and pepper. If needed add a little more broth, in case it reduced a lot.
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If you would like to thicken the gravy, combine 1/4 cup water with 1/4 cornstarch until smooth. Mix with a little hot gravy and return mixture to pot.
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Stir and cook until mixture starts to boil (bubbly).
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Garnish with fresh herbs and serve.