Heat the vegetable oil in a large pot or Dutch oven over medium heat. Add the chopped onion and sauté for about 5 minutes until translucent.
Add the minced garlic and cook for an additional minute until fragrant.
Stir in the ground beef, breaking it apart with a wooden spoon. Cook until browned, about 7-10 minutes. Drain excess fat if necessary.
Add sliced carrots and diced potatoes to the pot. Stir to combine.
Pour in the beef broth and diced tomatoes with their juices. Add the tomato paste, thyme, rosemary, salt, and pepper. Stir well.
Bring the stew to a gentle boil, then reduce the heat to low. Cover and simmer for 1 hour, stirring occasionally.
After an hour, add the frozen peas and continue to cook for an additional 10-15 minutes until the vegetables are tender.
Taste and adjust seasoning if necessary, then serve hot.