2 tablespoons vegetable oil
1 medium onion, diced
2 pounds beef stew meat, cut into 2-inch pieces
2 teaspoons kosher salt, divided
1 teaspoon freshly ground black pepper, divided
½ cup all-purpose flour
1 cup dry red wine
4 to 6 medium red-skinned potatoes, cut into cubes
2 cups beef broth
½ cup steak sauce
Heat the oil in the Instant Pot using the sauté function. Add the onion and cook, stirring occasionally, until softened, about 5 minutes.
Season the meat with 1 teaspoon of the salt and ½ teaspoon of the pepper. Toss it with the flour to coat. Add the meat to the pot and cook, stirring, until mostly browned on the outside, about 5 minutes.
Add the wine and cook, stirring and scraping up any browned bits from the bottom of the pan, for about 3 minutes more.
Add the potatoes, broth, steak sauce and the remaining teaspoon of salt and ½ teaspoon of pepper. Stir to mix.
Turn the sauté function off by pressing the keep warm/cancel button.
Close the lid of the Instant Pot and turn the valve to the sealing position. Choose high pressure and set the timer for 40 minutes.
When the cooking time is up, let the pressure release naturally for about 10 minutes. Quick release any remaining pressure. Serve hot.