This cozy, hearty lamb stews tastes great when all the flavors are extracted as it is in the Instant Pot cooker. As if by magic this only takes about 30 min prep time and 40 minutes cook time.
Click on Sauté and adjust it to High. Once the Instant Pot displays HOT add the oil wait for it to start shimmering.
Add the bacon piece and cook it until browned, remove to a plate and set aside.
In a large bowl toss lamb meat with salt, pepper, and all-purpose flour. Add it to the Instant Pot and cook it until browned, if needed do this in batches. Remove to a plate and set aside.
Deglaze by adding 1/2 cup of red wine and using a wooden spoon scrape the bits that stuck to the bottom of the pot.
Sauté the veggies by adding the onion and sauté for 1 minute. Add the garlic and sauté for 30 seconds, stirring occasionally.
Pressure Cook by adding the rest of the ingredients including the remaining wine, also add back to the pot the lamb and the bacon pieces.
Lock the lid, seal the valve and press the meat/stew function. Lower the time to 30 minutes. Pressure cook for 30 minutes followed by a 10-minute natural pressure release, release manually the remaining pressure. When the cook time has complete, hit the 'cancel' button and release the pressure in the Instant pot manually by carefully turning the valve to "venting". Let vent until all the steam has released and carefully remove the lid. Open and stir the stew. Discard the bay leaves.
If you want the stew thicker, click again on Sauté. In a measuring cup mix 2 tablespoons of cornstarch and 1/3 cup water until fully dissolved. With the sauté function on and while stirring, slowly pour the slurry into the soup, stirring, until the soup has thickened, about 2 minutes.
Serve garnished with fresh parsley and serve warm. You can serve over mashed potatoes or with fresh bread.