Brown the beef: In a large pot or Dutch oven, heat the olive oil or butter over medium-high heat. Season the beef chunks with salt and pepper, and brown them on all sides, about 4-5 minutes. Remove the beef from the pot and set aside.

Sauté the onions and garlic: In the same pot, reduce the heat to medium and add the chopped onions and garlic. Cook for 3-4 minutes, until softened and fragrant.

Add caraway and tomato paste: Stir in the caraway seeds and tomato paste, cooking for another 1-2 minutes to release the flavor of the caraway seeds.

Deglaze with wine or broth: Pour in the red wine (or additional beef broth) to deglaze the pot, scraping up any browned bits from the bottom. Let the wine simmer for 3-4 minutes to reduce slightly.

Simmer the beef: Return the browned beef to the pot. Add the beef broth, fresh thyme, parsley, and bay leaf. Bring the mixture to a simmer, then cover and reduce the heat to low. Let it cook for 2-2.5 hours, or until the beef is tender and the sauce has thickened.

Serve: Remove the bay leaf and serve the braised beef hot. Garnish with extra fresh parsley, and pair it with keto-friendly sides like cauliflower mash or roasted greens.