Pat the lamb shanks dry with paper towels, then season generously with salt and pepper. Heat a tablespoon of olive oil in your Dutch oven over medium-high heat until shimmering. Add the shanks and brown them on all sides, about 8 minutes total, until they develop a deep, caramelized crust. Use tongs to turn and brown evenly.
Remove the browned shanks and set aside. Add chopped onion and carrots to the same pan. Cook, stirring occasionally, until the vegetables soften and become fragrant, about 5 minutes. Scrape up any browned bits from the bottom of the pan—that's where the flavor lives.
Pour in the red wine and increase the heat to high. Bring it to a gentle simmer and let it reduce by about a third, roughly 10-15 minutes, until it thickens slightly and smells rich and fruity.
Add crushed garlic, thyme, rosemary, and the bay leaf. Return the lamb shanks to the pan, nestling them into the sauce and vegetables. Cover the pan with a lid or foil, then transfer it to a preheated oven at 160°C (320°F). Braise for about 2.5 to 3 hours, until the meat is fork-tender and falling off the bone.
Check the sauce occasionally; if it reduces too much, add a splash of stock or water. At the end of cooking, uncover and simmer the sauce on the stove over medium heat if needed, to thicken it into a glossy, rich glaze that coats the meat beautifully.
Remove the lamb shanks from the pan and let them rest for 10 minutes, loosely covered with foil. Meanwhile, taste the sauce and adjust seasoning with salt and pepper. If the sauce is too greasy, skim off excess fat with a spoon.
Serve the lamb shanks with the glossy sauce spooned over, alongside mashed potatoes, polenta, or crusty bread. Garnish with fresh herbs if desired. Enjoy the tender, flavorful bites that come from slow, patient braising.
