Sear the Beef: In a large Dutch oven, heat oil over medium-high. Add beef cubes in batches, searing until browned. Remove and set aside.
Cook Onions and Garlic: In the same pot, add onions. Cook until golden brown (about 8 minutes). Add garlic and cook for 1 minute.
Add Paprika and Tomato Paste: Stir in paprika and tomato paste, mixing well to coat onions. Quickly add a splash of broth to prevent paprika from burning.
Simmer the Base: Return beef to pot. Add broth, bay leaves, caraway seeds, salt, and pepper. Bring to a boil, then lower heat and simmer covered for 1 hour.
Add Vegetables: Add carrots, potatoes, celery, bell pepper, and tomato. Simmer for 30 more minutes until vegetables and beef are tender.
Finish and Adjust: Taste and adjust seasoning with more salt or paprika if needed. Remove bay leaves before serving.