In your Instant Pot place your flank steak and pour in enough water to just cover the meat.
Add to the pot 2 bay leaves, 1 teaspoon of cumin, ½ tablespoon of salt and ½ teaspoon of black pepper.
Cover the Instant Pot and set to 25 minutes on the Meat/Stew setting.
Once the steam has released from the Instant Pot, remove the meat and beging shredding the flank steak using two forks. Remove any fatty bits while shredding.
Reserve 1 cup of the beef broth from the Instant Pot.
In a large saute pan over medium heat add your vegetable oil, peppers, onions and garlic. Sauté for 2 minutes
Add the shredded beef, pureed tomato, red cooking wine, preserved beef broth, 1 teaspoon of cumin, ½ tablespoon of salt, ¼ teaspoon of black pepper and dried oregano. Mix to ensure steak is well incorporated, cover the sauté pan and drop the heat to low. Allow to simmer for 10 minutes.
Season with additional salt if desired before serving