Turn on the pressure cooker and select sauté. Once hot add the oil, ground beef, and onion. Cook 5-7 minutes until the ground beef is browned and the onion is soft. Crumble the ground beef as it cooks. Add garlic and cook an additional minute. Drain excess grease from the pressure cooker if needed.
Add broth, tomato paste, oregano, salt, thyme, basil, pepper, and red pepper flakes (if using). Stir to mix well.
Pour crushed tomatoes on top. Top with bay leaves. Do not stir.
Close lid and seal valve. Cook high pressure for 20 minutes. Natural release pressure for 5 minutes then quick release any remaining pressure.