Pour the olive oil into the Instant Pot. Swirl the pot so the oil spreads out and covers the bottom of the pan. Press “saute” on the Instant Pot. When the oil is hot, add the ground beef. Use your spatula to spread the meat to cover the bottom of the pan. Let cook without touching until the bottom turns golden brown, about 5 minutes. Break the meat into smaller chunks using your spatula. You can leave some big chunks to increase the meaty texture of the sauce. Cook until the beef has browned on the surface. Press “Cancel” to turn off the Instant Pot.
Add the crushed tomatoes. Use your spatula to scrape the brown bits from the bottom of the pot.
Add the rest of the ingredients - onion, carrots, celery, garlic, tomato paste, Shaoxing wine, oyster sauce, soy sauce, bay leaves, salt, and black pepper.
Seal the Instant Pot. Make sure the valve is pointed to “Sealing”. Set on Manual at high pressure for 25 minutes. Use the natural release method for 8 minutes, then switch to fast release by using a long spatula or other utensil to rotate the valve to “Venting”. Stay away from the Instant Pot to avoid being burned by the hot steam coming out of the pot when using fast release.
Taste the sauce and adjust the seasoning by adding more salt if needed. Remove the bay leaves and discard them. Stir everything to mix well. You can store the sauce in an airtight container in the fridge for 3 to 4 days, or serve it immediately.
Ladle the sauce over cooked pasta. Top with cheese, fresh parsley, and more ground pepper if needed. Enjoy!