In a medium saucepan, combine the red wine, tomato paste, minced garlic, rosemary, and a pinch of salt. Bring to a boil over medium-high heat, then lower to a simmer. Let it reduce by about half, stirring occasionally. This will take 10–15 minutes. Finish with a splash of balsamic vinegar and set aside.
Step 2: Brown the Meat
Set the Instant Pot to ‘Sauté’ mode and add the olive oil. Once hot, sear the beef stew meat in batches to avoid overcrowding. Brown all sides, about 3–4 minutes per batch. If you’re using leftover steak, skip this step and add it later during the pressure cooking phase.
Step 3: Sauté the Aromatics
Once all meat is browned and removed, add chopped onions, carrots, and celery to the pot. Sauté until softened, about 5 minutes. Add garlic and stir for an additional minute.
Step 4: Deglaze and Combine
Pour in a small splash of beef broth and use a wooden spoon to deglaze the pot, scraping up all the brown bits from the bottom. Add the rest of the broth, potatoes, browned beef (or leftover steak), Worcestershire sauce, smoked paprika, thyme, and the red wine reduction. Season with salt and pepper.
Step 5: Pressure Cook
Secure the lid, set the valve to ‘Sealing’, and pressure cook on ‘Manual’ for 25 minutes. Let it naturally release for 10 minutes, then do a quick release.
Step 6: Optional Thickening
For a slightly thicker consistency (leaning toward a steak stew), make a slurry by mixing 2 tablespoons of flour with a bit of cold water. Turn the Instant Pot to ‘Sauté’ again, stir in the slurry, and simmer until slightly thickened—about 5 minutes.
Step 7: Serve and Garnish
Ladle the soup into bowls and garnish with freshly chopped parsley. Serve hot with crusty bread or over a bed of mashed potatoes for an extra hearty touch.