Savory Instant Pot Beef Ragu

Ingredients

• 2.5 lbs boneless beef chuck roast ((cut into 2 inch chunks))
• 4 each garlic cloves
• 1/4 cup white onion ((diced))
• 1 each small carrot ((diced))
• 1/4 cup tomato paste
• 28 oz canned diced tomatoes
• 8 oz tomato sauce
• 1/2 cup dry red wine
• 1 tsp italian seasoning
• 1/4 tsp ground cinnamon
• 2 each bay leaves
• 2 tbsp fresh basil ((chopped))
• 1/2 tsp salt
• 1/2 tsp pepper
• 1 tbsp olive oil