Season and Sear the Roast
Season the beef roast generously with salt and pepper on all sides. Set the Instant Pot to “Sauté” mode and add olive oil. Once hot, sear the roast for 3-4 minutes per side, until browned. Remove the roast and set it aside.
Sauté the Onion and Garlic
Add the diced onion to the Instant Pot and sauté for 2-3 minutes until softened. Add the garlic and cook for an additional minute, stirring constantly.
Deglaze with Wine and Add Seasonings
Pour in the red wine (or beef broth) and use a wooden spoon to scrape up any browned bits on the bottom of the pot. Stir in the tomato paste, Worcestershire sauce, thyme, and rosemary.
Add the Broth and Roast
Add the beef broth to the pot and return the roast to the Instant Pot. Lock the lid in place and set to “Pressure Cook” on high for 60 minutes.
Natural Pressure Release
Allow the pressure to release naturally for 10-15 minutes, then carefully do a quick release for any remaining pressure.
Add Vegetables and Cook Again
Open the Instant Pot and add the carrots and potatoes around the roast. Reseal the lid and set to “Pressure Cook” on high for 10 minutes. After the cooking time is up, do a quick release.
Serve
Remove the roast and vegetables from the Instant Pot. Slice the roast against the grain and serve with the vegetables. Garnish with fresh parsley if desired.