Beef Caldereta - cooking recipe

Ingredients

3 tablespoons olive oil, divided
2 tablespoons light butter
2 Spanish onions, coarsely chopped
2 heads garlic, crushed
2 pounds beef shanks
2 pounds beef short ribs
2 pinches salt
3 cups water, or more to taste
1 teaspoon whole black peppercorns
2 large bay leaves, torn
1 cup tomato sauce
1 cup shredded Cheddar cheese
2/3 cup liver spread
2 tablespoons bread crumbs, or more to taste
2 red chile peppers, chopped, or more to taste
3 potatoes, peeled and quartered (optional)
1 carrot, peeled and sliced diagonally (optional)
1 green bell pepper, cut into strips (optional)
1 red bell pepper, cut into strips (optional)

Preparation

Heat 1 tablespoon olive oil and butter in a large pot over medium heat. Add onions and garlic; cook and stir until onions are almost translucent, about 4 minutes. Add beef shanks, short ribs, and salt; cook and stir until beef shanks and short ribs are no longer red, about 5 minutes.
Pour water into the pot; stir in peppercorns and bay leaves. Simmer until beef is tender, 45 minutes to 1 hour. Discard bay leaves. Add tomato sauce, Cheddar cheese, liver spread, and bread crumbs. Simmer until flavors combine, about 10 minutes. Stir in chile peppers.
Heat remaining 2 tablespoons olive oil in a skillet over medium heat. Add potatoes and carrot; cook and stir until golden brown and tender, about 10 minutes. Stir into the pot. Serve stew with green bell pepper and red bell pepper.