Preheat your oven to 325°F (165°C).
Season the ribs generously with salt, pepper, and smoked paprika.
Heat olive oil in a Dutch oven over medium-high heat. Sear the ribs on all sides until deep brown, about 3-4 minutes per side. Remove and set aside.
Sauté onions in the same pot until soft and golden, about 8 minutes. Add garlic and cook another minute.
Add tomato paste and brown sugar, stirring to coat the onions and garlic.
Deglaze with red wine, scraping up browned bits from the bottom. Let the wine reduce by half.
Add beef broth, thyme, and bay leaves. Return the ribs to the pot, submerging them partially in the liquid.
Bring to a simmer, then cover and transfer the pot to the oven.
Slow-cook for 3–3.5 hours until the ribs are tender and falling off the bone.
Finish with butter: Remove ribs and whisk butter into the sauce for a glossy finish.
Serve hot over mashed potatoes, grits, or rice, spooning extra sauce on top.