Add onion powder, garlic powder, paprika, dried thyme, dried rosemary, black pepper, and salt in a small bowl. Mix well.

Pat the eye of round steak with a kitchen towel and drizzle olive oil; using your hands, run olive oil on all sides of the steak.

Rub the dry spice mix generously on the steak.

Place it on a roasting pan's rack and to the preheated oven at 400-degree f for about 15 minutes until it gets a nice brown color.

Now reduce the temperature to 300-degree f and let it roast for about 40 minutes or until the steak's internal temperature reaches 135-degree f. This is the temperature for medium-rare steak.

Once done, take the steak out of the oven. Pour the drippings into a bowl and cover the pan loosely with aluminum foil. Let it rest for about 20 minutes.

Once done, transfer it to a cutting board. Using a sharp knife, slice the steak and place it on the serving plate. Cover with aluminum foil, so it stays warm.

Pour the juices on the cutting board in the roasting pan.

Meanwhile, pour red wine into the roasting pan with all the drippings and place it on medium heat. Using a wooden spoon, scrape off the bits on the roasting pan.

In a bowl, melt butter and mix all-purpose flour in it.

Once the red wine starts to reduce, pour beef broth and the all-purpose flour and butter mixture.

Using a whisker, whisk the ingredients vigorously until everything unifies.

Now add the browning sauce and continue to whisk the ingredients.

Bring the mixture to a boil and reduce the heat to let it simmer at low heat for 3 minutes until it thickens up.

Season with salt and black pepper.

Pour it in a serving jug and serve it alongside the steak and mashed potatoes. Enjoy!