Rinse meat under cold running water; pat dry with paper towels. Trim any visible fat, then dust meat with flour.
In a large Dutch oven, over medium-high heat, heat 2 tablespoons oil. Add meat and cook
until browned on underside, 5 to 7 minutes. Turn meat and cook until underside is browned, 5 to 6 minutes longer. Remove to a plate.
Preheat oven to 325°F Add remaining oil to Dutch oven and stir in onions. Cook until onions begin to soften and color, 4 to 5 minutes. Add garlic and cook 1 minute longer add wine and cook down 4 to 5 minute Pour in tomato juice, stirring and scraping to pick up any bits from bottom. Season with thyme, papnka, and bay leaf. Add salt and pepper to taste.
Return beef to pot and add enough water to cover all ingredients. Bring to a boil and skim any foam that comes to the surface. Cover tightly and cook in the oven until beef is fork-tender, 3 to 3 1/2 hours. Add carrots and potatoes to pot and cook until tender, 30 to 60 minute.
Remove Dutch oven from the oven and remove cover. If liquid is too thin, remove the beef to a deep serving platter and reduce gravy to thicken slightly. Spoon gravy with onions and carrots around beef and garnish with parsley. Serve meat carved into ¼ inch slices.