Sear the Beef: In a large pot or Dutch oven, heat the oil over medium-high heat. Add the beef cubes in batches and brown them on all sides. Remove and set aside.
Sauté Vegetables: In the same pot, add onions and cook until soft and golden. Stir in garlic and bell pepper and cook for another minute.
Add Spices: Stir in paprika, tomato paste, and caraway seeds. Cook briefly to release the flavors.
Deglaze and Simmer: Return the beef to the pot, pour in the broth, and bring to a gentle boil. Reduce heat, cover, and simmer for 1.5 hours or until the beef is tender.
Thicken and Cream: In a small bowl, mix flour with a little water to make a paste. Stir into the pot to thicken the sauce. Lower the heat and stir in sour cream or heavy cream until smooth and velvety. Season with salt and pepper.
Serve Hot: Garnish with chopped parsley and serve warm with noodles or potatoes.