Preheat the oven to 325°F (160°C).
Season the short ribs generously with salt and pepper.
In a heavy, oven-safe pot, heat the vegetable oil over medium-high heat.
Sear the short ribs on all sides until browned, about 3–4 minutes per side.
Remove the short ribs from the pot and set them aside.
Add the chopped onion and carrots to the same pot, sauté for 5 minutes.
Stir in the minced garlic and tomato paste, cooking for another 2 minutes.
Pour in the red wine, scraping up any browned bits from the bottom.
Let the wine simmer for about 5 minutes, allowing it to reduce slightly.
Add the beef broth and thyme, returning the short ribs to the pot.
Bring the mixture to a gentle boil, then cover tightly and transfer to the oven.
Braise in the oven for about 2.5 to 3 hours, or until the meat is tender.
Once cooked, remove from oven and let the ribs rest for 10 minutes before serving.
Serve the short ribs with your choice of sides, spooning extra sauce over the top.