Preheat your oven to 300°F (150°C).

Generously season the ribs with salt and black pepper.

In a large Dutch oven, heat olive oil over medium-high heat.

Sear the ribs for about 3-4 minutes on each side until browned.

Remove the ribs and set them aside.

Add chopped onions and garlic to the pot, sauté until the onions are translucent, about 5 minutes.

Stir in beef broth, red wine, tomato paste, thyme, and bay leaf.

Return the seared ribs to the pot, ensuring they are mostly submerged in the liquid.

Cover the pot with a lid and transfer it to the oven.

Let the ribs braise for about 3 hours.

Remove the pot from the oven and let it rest for about 10 minutes before serving.