Heat oil in heavy pot. Add shallots, carrots, tomato paste and thyme. Season with S&P and mix.
2.
Pat shanks dry with paper towels and season generously with S&P. Dust with flour and shake off excess. Add to pot and brown all over.
3.
Add red wine to hot pan to deglaze & scrape up brown bits. Add beef stock. Cook on low for 4 hours.
4.
If desired, thicken some of the braising liquid to make a sauce - in a saucepan over med heat, melt 2 T butter. Mix 3 T flour into butter and cook 2-3 min. Add C of braising liquid in a steady stream, stirring or whisking into butter mix. Slowly pour more of the braising liquid into the saucepan until desired amt. simmering until thickened.
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