Preheat oven to 300°F (150°C).
Generously season the beef roast with salt and black pepper on all sides.
In a large Dutch oven, heat vegetable oil over medium-high heat and sear the beef until a deep brown crust forms on all sides, then remove and set aside.
In the same pot, add mushrooms and cook until browned and moisture has evaporated, then remove and set aside.
Add onions and carrots to the pot, sautéing for 5 minutes until onions soften.
Stir in minced garlic and tomato paste, cooking for 1 minute until fragrant.
Pour in the red wine to deglaze the pot, scraping the bottom to release the browned bits.
Add beef stock, thyme, rosemary, and bay leaves, then return the seared beef to the pot.
Cover with a tight-fitting lid and transfer to the oven to braise for 2 hours.
Add the halved baby potatoes and the reserved mushrooms to the pot around the beef.
Cover and continue braising for another 90 minutes or until the beef is fork-tender.
Discard the herb sprigs and bay leaves before slicing the beef and serving with the vegetables and pan juices.