Set Instant Pot to “Sauté” and add oil, onion, and garlic. Season generously with salt and pepper. Cook, stirring occasionally, until onion softens, 5 minutes. Add tomato paste and cook, stirring, 1 minute. Add remaining ingredients and stir to combine.
Lock lid and set machine to cook at high pressure for 8 minutes. When finished, carefully turn steam valve to the venting position to release the pressure.
Stir soup and season with salt and pepper.
Garnish with parsley and a drizzle of olive oil before serving.
