Heat vegetable oil in a large pot over medium-high heat. Season beef chuck with salt and pepper, then brown cubes in batches for about 5 minutes on each side. Remove and set aside.

Lower heat to medium and add remaining oil. Sauté chopped onion until translucent (about 5 minutes). Add minced garlic and cook for another minute.

Stir in tomato paste and cook for about 1 minute. Deglaze pot with red wine, scraping browned bits, and let simmer for 2-3 minutes.

Return beef to the pot, pour in beef broth, add thyme, rosemary, and bay leaves. Bring to a boil, then reduce heat to simmer and cover, cooking for 1.5 to 2 hours.

Once beef is tender, add chopped carrots and potatoes. Continue to simmer for another 30-40 minutes until vegetables are fork-tender.

Five minutes before serving, stir in frozen peas. Adjust seasoning with salt and pepper.

Ladle stew into bowls, garnishing with fresh parsley. Serve with crusty bread.