Select [Saute] to preheat the Instant Pot®. When the word “Hot” appears on the display, add half of the oil and saute the beef until slightly brown.
Remove the beef from the pot. Add and heat the rest of the oil then saute the garlic and onion until slightly soft. Add the cubed carrots and potatoes and lightly brown them in the oil. Add the tomato paste and stir until vegetables are well-coated.
Next, add the tomato sauce, chicken broth, and browned beef. Scrape the bottom of the pan with a wooden spoon until no food bits are stuck.
Close the lid and set the steam release handle to the Sealing Position. Select [Pressure Cook] and [Pressure Level] to [High] then use the [+] or [-] buttons to set the time to 30 mins.
When time is up, do not open the lid and let the pressure come down on its own through Natural Release.
Once pressure is released, carefully open the lid and stir in the peas in the Instant Pot®. Let the residual heat cook it.