Step 1: In a large Dutch oven or heavy-bottomed pot, heat the olive oil over medium-high heat. Add the beef cubes and brown them on all sides, about 5 minutes total. Remove the beef from the pot and set aside.
Step 2: Add the diced onion to the pot and sauté until translucent, about 3-4 minutes. Add the minced garlic and cook for an additional minute, stirring constantly to prevent burning.
Step 3: Pour in the tomato sauce, beef broth, soy sauce, vinegar, sugar, paprika, dried oregano, and bay leaf. Stir to combine and bring the mixture to a simmer.
Step 4: Return the browned beef to the pot and reduce the heat to low. Cover and simmer for 1 hour, stirring occasionally, until the beef is starting to become tender.
Step 5: Add the cubed potatoes and carrot pieces to the pot. Cover and continue simmering for an additional 30-40 minutes, or until the beef is very tender and the vegetables are cooked through.
Step 6: Remove the bay leaf. Taste and adjust seasoning with salt and black pepper as needed.