Beef Estofado

Turn the Instant Pot to Sauté mode and heat the olive oil.
Add the beef cubes in batches and sear until browned on all sides. Remove and set aside.
Sauté the Onions and Garlic:

Add the chopped onion and pearl onions (or shallots) to the pot. Sauté for 3-4 minutes until softened.
Add the minced garlic and cook for another minute.
Make the Sauce:

Stir in the tomato paste, crushed tomatoes, red wine vinegar, cinnamon, oregano, allspice, and bay leaf. Mix well to combine.
Pressure Cook the Beef:

Return the seared beef to the pot and pour in the beef broth. Season with salt and black pepper to taste.
Close the lid, set the valve to Sealing, and pressure cook on High for 35 minutes.
Let the pressure release naturally for 10 minutes, then do a quick release.
Finish the Dish:

Open the lid, stir the Estofado, and taste for seasoning. Discard the bay leaf.
Serve:

Serve hot, garnished with fresh parsley. Pair with rice, mashed potatoes, or crusty bread for a hearty meal.
Serving and Storage Tips: