Thoroughly wash and dry the meat. Season it on all sides with salt and freshly ground black pepper.
Heat oil in a pan and sear the meat on all sides until golden. Then, remove it and set it aside.
Add the sliced onion, garlic, and carrots to the same pan. Sauté for about 5-7 minutes until the vegetables soften.
Preheat the oven to 160°C (320°F). Place the sautéed vegetables in a roasting pan and put the seared meat on top. Add the bay leaf and thyme.
Pour in the red wine and broth. Make sure the meat is at least half submerged in the liquid.
Cover the roasting pan and place it in the oven. Roast for about 2 hours until the meat is perfectly soft and tender. You can turn it once during roasting.
Remove the roasted meat from the pan and let it rest for 10 minutes. You can blend the vegetables and liquid from the pan to make a smooth gravy.
Slice the meat and serve it drizzled with the gravy. Mashed potatoes, dumplings, or fresh bread are great side dishes.