01 - Pat beef cubes dry and season generously with salt and pepper.
02 - Heat 1 tbsp olive oil in a large Dutch oven over medium-high heat; brown beef in batches on all sides, adding oil as needed. Transfer browned beef to plate.
03 - Add remaining olive oil to pot; sauté onion, garlic, carrots, and celery until softened, about 4–5 minutes.
04 - Stir in tomato paste and flour; cook for 1 minute to develop flavor.
05 - Pour in red wine if using, scraping browned bits from pot bottom; simmer 2 minutes to reduce.
06 - Return beef to pot; add broth, potatoes, thyme, rosemary, and bay leaves; bring mixture to a simmer.
07 - Reduce heat to low; cover and cook gently for 1½ to 2 hours until beef is tender, stirring occasionally.
08 - Remove lid; stir in peas and simmer uncovered for 10 minutes to thicken and cook peas.
09 - Discard bay leaves; adjust salt and pepper to taste; stir in fresh parsley if desired.
10 - Ladle stew into bowls and serve hot, ideally with crusty bread.