Braising Lamb Shanks
Trim the excess fat on the lamb shanks. See notes for tips.
Turn the Instant Pot on SAUTE on medium or high heat (I prefer high). Add the olive oil. Season the lamb shanks with salt and pepper, and add two at a time. You do not want to overcrowd the pot. Sear the lamb shanks on all sides for 3 - 5 minutes until it's browned. The darker (but not burnt), the better for a rich, deep-flavored sauce. Then transfer the seared lamb shanks to a plate and set aside. Repeat until all the lamb shanks are brown on all sides.
Add the chopped vegetables and garlic cloves with a pinch of salt to the Instant Pot. Sauté until the vegetables are soft and the onion is translucent, about 5 - 7 minutes. Add the tomato paste and stir until the vegetables are fully coated.
Add the red wine to deglaze the pot. Let it simmer for 10 minutes or until the wine reduces in half.
Add the beef stock and herbs. Then place the seared lamb shanks back into the Instant Pot.
Secure the lid and make sure the vent is set to SEALING. Select PRESSURE COOK on HIGH and set the cooking time to 60 minutes.
When the cooking process is complete, let the pressure release naturally for 15 minutes. Then use the quick release to finish the remaining pressure.
Making Red Wine Jus
Carefully remove the lamb shanks and place them on a plate. Cover the lamb shanks in the foil to stay warm and set aside.
Strain the sauce into a bowl, extracting all the juice (flavor) from the veggies. Then put the strained sauce back into the pot.
In a small bowl, make a cornstarch slurry by whisking the cornstarch and water together until smooth.
Turn the Instant Pot back on SAUTE high heat. Once the sauce starts to simmer, add the cornstarch slurry. Whisk the sauce and continue to simmer until you have reached a desired consistency, usually when the sauce can coat the back of a spoon, about 5 - 10 minutes.
Add the butter and whisk until the sauce is silky, shiny, and smooth. Taste and season with salt and pepper as needed.
Serve the lamb shanks on a bed of creamy mashed potatoes and pour the red wine jus over the lamb shanks. Enjoy!