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DAY ONE.
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Preheat oven to 425 degrees F.
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Place the bacon in a Dutch oven or stockpot and cook, stirring, over medium-high heat until the fat begins to render, about 3 minutes.
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Continue cooking until slightly crisp.
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Reserve.
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Add the beef and cook, stirring, until brown on all sides, about 5 minutes.
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Remove the meat from the pan with a slotted spoon and drain on paper towels.
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To the fat in the pan, add the onions and carrots, and stir to coat.
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Cook until soft, about 4 minutes.
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Add the garlic, oregano, dill seeds, and bay leaves and cook, stirring, for 1 minute.
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Add the red wine vinegar and stir to deglaze the pan.
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Return the meat and bacon to the pot and add the stock, salt, and pepper and bring to boil.
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Reduce the heat and simmer partially covered until the beef is tender, about 2 hours.
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Cool and refrigerate overnight Meanwhile, Brush with a little oil and place the beets wrapped in parchment and then foil on a baking sheet.
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Roast until tender and can be pierced easily with a knife, about 1 hour.
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Remove from the oven and let sit until cool enough to handle.
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Place in a bowl, cover with plastic and refrigerate overnight.
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DAY TWO.
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Trim the stem and root endsof the beets and remove the skins.
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Coarsely grate and set aside.
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Remove fat from the meat mixture, add the beets, potatoes, and cabbage.
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Bring to a boil and Simmer over low heat for another 30 minutes.
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Season with additional red wine vinegar, salt and freshly ground black pepper, to taste.
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Ladle borscht into bowls and garnish with a dollop of sour cream or creme fraiche and pinch of fresh dill.