Brown beef: Heat oil in a large pot over medium-high heat. Brown beef cubes on all sides, then remove and set aside.
Cook onions and garlic: In the same pot, sauté onions until translucent, about 5 minutes. Add garlic and paprika; stir 1 minute until fragrant.
Simmer: Return beef to the pot. Add caraway seeds, carrots, bell pepper, beef broth, and diced tomatoes. Bring to a boil, then reduce heat to low. Cover and simmer 1–1.5 hours until beef is tender.
Add potatoes: Add cubed potatoes and simmer 20–25 minutes until potatoes are soft.
Season & serve: Adjust salt and pepper to taste. Serve hot, garnished with fresh parsley and a dollop of sour cream if desired.