Season beef cubes with salt and pepper. Heat vegetable oil and butter in the pressure cooker on sauté mode. Brown the beef in batches for about 5 minutes each, then transfer to a plate.
Sauté diced onions in the same pot for about 3 minutes until softened. Pour in beef broth, scraping the bottom of the pot to deglaze.
Add crushed tomatoes, dried parsley, bay leaves, and return browned beef along with any juices. Seal the lid and set to high pressure for 10 minutes.
After cooking, allow pressure to release naturally for 5 minutes, then quick release the remaining pressure. Add potatoes, carrots, and celery, seal the lid, and cook on high pressure for 2 minutes.
Release pressure after 5 minutes, then open the lid and discard bay leaves. Whisk flour and cold water in a small bowl, then add hot broth from the pot to the mixture.
Return the slurry to the stew, select sauté mode, and stir until sauce thickens. Stir in frozen corn and peas, seasoning to taste.
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Notes
Store leftovers in an airtight container in the refrigerator for up to 4 days. Reheat gently on the stovetop or microwave.