Heat 2 tablespoons of vegetable oil over medium-high heat. Add the beef stew meat in a single layer and brown for 10 minutes. Transfer to a plate and set aside.

In the same pot, add chopped onions and 2 tablespoons of tomato paste. Cook for 5 minutes until onions are translucent.

Return the browned beef to the pot and add 4 cups of beef broth. Bring to a boil, then reduce heat and simmer for 1 to 1.5 hours.

Add diced potatoes, sliced carrots, thyme, red pepper flakes, rosemary, and bay leaf. Cover and simmer for another 45 minutes.

Stir in sliced mushrooms and frozen peas. Cook for an additional 10-15 minutes. Remove bay leaf and any rosemary stems before serving.

Ladle the stew into bowls and garnish with freshly chopped parsley before serving.