In a large Dutch oven, heat the olive oil over medium-high heat. Add the beef cubes and brown them on all sides, about 5-7 minutes. Remove the beef and set aside.
In the same pot, add the chopped onion and sauté until translucent, about 3-4 minutes. Add the minced garlic and cook for an additional minute.
Return the browned beef to the pot. Stir in the beef broth, red wine, tomato paste, crushed peppercorns, rosemary, thyme, bay leaf, and salt. Bring the mixture to a boil.
Reduce the heat to low, cover the pot, and let it simmer for about 2 to 2.5 hours, or until the beef is tender. Stir occasionally and add more broth or water if needed.
Once the beef is tender, taste and adjust seasoning if necessary. Remove the bay leaf before serving.