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PdfTurn Instant Pot to Sauté (High). Add 2 tbsp olive oil.
When the oil is shimmering hot, add the beef slabs. Do not crowd the pot—sear in two batches if necessary.
Sear for 4-5 minutes per side undisturbed. Remove beef to a plate.
Turn the Instant Pot OFF. Let it cool down for 2 minutes.
Turn the pot back on to Sauté (Low) or Normal. Add a splash more oil if the pot is dry.
Add the minced onion, carrot, and celery. Cook gently for 8-10 minutes, stirring often.
Create a small well in the center of the vegetables. Add the garlic and the tomato paste. Stir the paste into the vegetables and cook for 1-2 minutes.
Pour in the red wine. Use a wooden spoon to scrape the bottom of the pot vigorously.
Stir in the crushed tomatoes, beef broth, rosemary, thyme, and bay leaf. Nestle the seared beef slabs back into the sauce.
Lock the Lid. Set valve to Sealing. Cook: Select Pressure Cook (Manual / High) for 45 minutes.
When the timer beeps, allow a Natural Release for at least 15 minutes.
Discard the herb stems and bay leaf. The beef should be fork-tender.
If the sauce looks too thin, remove the meat and simmer on Sauté for 5 minutes to reduce.