Pat the steaks dry and season both sides with salt and fresh ground pepper.

Heat 2 tbsp olive oil in a cast-iron skillet (yes, a regular pan is also fine). When hot, add the steaks. Cook for approximately 6 minutes on each side for medium-rare, depending on the thickness of the steaks.Remove the steaks from the pan and cover loosely with aluminum foil.

Add another tbsp of olive oil to the same pan and add the minced garlic and shallots. Sauté for 1 minute until the garlic is fragrant. Add the red wine (I used a Cabernet Sauvignon because it was what I happened to be drinking, but you can use any kind you like), the soy sauce, and the sugar. Allow the sauce to reduce at a low boil until it becomes thick and syrupy. This should take about ten minutes.

Strain the sauce to remove all the solids. Season with a little salt and pepper if needed (you made a sauce!) and drizzle over the steaks before serving.