Add olive to your electric pressure cooker and set on the "saute" setting.

Season your beef stew meat with kosher salt and black pepper.

When the oil is hot in 2 batches add your meat and brown the outside of the meat.

When all the meat is browned turn off the heat and pour in the red wine.

Scrape the bottom of the pot to release any bits of flavor.

Mix in the tomato paste and stir to combine.

Add in the pearl barley, onion, celery, carrots, mushrooms, garlic, fresh thyme sprigs, bay leaf, and the beef stock.

Stir to combine.

Add the lid and lock it into place. Make sure the vent is turned to the sealing position.

Cook on manual high pressure for 15 minutes. It will take about 10 minutes for the pressure to build and start counting down the cooking time.

After the 15 minutes of active cooking time has ended let the soup natural release for 15 minutes.

After 15 minutes turn the vent to "release" and let the pressure cooker release the steam and unlock the lid.

Remove the lid and stir the soup.

Serve immediately with bread, crackers, or plain.