In a large Dutch oven or heavy-bottomed pot, heat 2 tablespoons of extra virgin olive oil over medium-high heat. Season the beef cubes generously with salt and freshly ground black pepper. Once the oil is shimmering, add the beef in batches to avoid overcrowding the pot. Brown the beef on all sides, about 5-7 minutes per batch. Remove the beef from the pot and set aside.
In the same pot, add the remaining 2 tablespoons of olive oil. Add the diced onion and sauté for about 4-5 minutes, or until the onion is soft and translucent, stirring occasionally.
Stir in the minced garlic and cook for an additional minute, ensuring the garlic does not burn.
Incorporate the sliced carrots, parsnips, and diced potatoes into the pot. Cook the vegetables for about 5 minutes, stirring frequently.
Add the reserved browned beef back into the pot along with the beef broth, diced tomatoes (with juices), tomato paste, dried thyme, dried rosemary, and bay leaves. Stir everything together until well combined.
Increase the heat and bring the stew to a gentle simmer. Once simmering, reduce the heat to low. Cover the pot with a lid and let it cook for 1.5 to 2 hours, stirring occasionally.
After the cooking time, check if the beef is tender by piercing it with a fork. Taste the stew and adjust the seasoning with salt and pepper as needed. Remove the bay leaves before serving.
Ladle the steaming stew into bowls, garnishing each portion with finely chopped fresh parsley.
Notes
Serve with crusty country bread on the side for dipping.