Heat the vegetable oil in a large pot over medium-high heat.
Add the beef stew meat and cook until browned on all sides, about 5-7 minutes.
Add the diced onion and minced garlic to the pot with the beef, cooking until the onion is translucent, about 4-5 minutes.
Sprinkle the flour over the meat and vegetables, stirring to coat and cook for 1 minute.
Pour in the crushed tomatoes and beef broth, stirring to combine.
Add the chopped carrots, cubed potatoes, salt, pepper, dried thyme, and bay leaves to the pot.
Bring the stew to a boil, then reduce the heat to low and cover the pot.
Simmer the stew for about 1.5 to 2 hours, or until the beef is tender and the vegetables are cooked through.
Remove the bay leaves before serving.
Serve the stew hot, ideally with a side of crusty bread for dipping.