In a large bowl, combine ground beef, pureed onion, crumbled bread, salt, black pepper, cumin, and 2 tablespoons of olive oil. Mix just until everything is combined.
Shape into small meatballs and place them on a plate.
Heat the remaining 2 tablespoons of olive oil in a large pan over medium heat.
Cook the meatballs in batches over medium-high heat for 2–3 minutes per side. Don’t overcrowd the pan — otherwise, they’ll release water instead of frying. They don’t need to be fully cooked at this stage; just make sure all sides are browned.
Transfer the browned meatballs to a plate.
Add the tomato paste to the same pan and cook for about 15 seconds. There should be some oil left from the meatballs, so no need to add extra.
Add the pureed (or finely diced) tomatoes and cook for 2–3 minutes, stirring occasionally.
Add the diced potatoes and carrots and cook for about 5 minutes. Add a splash of water if it gets too dry.
Return the meatballs to the pan.
Pour in the boiling water, stir, and bring to a boil. Then reduce the heat to medium-low and let it simmer for about 20 minutes, or until the vegetables are tender.
Add the peas, salt, and pepper, and cook for another 5 minutes.
Remove from the heat, taste, and adjust the seasoning to your liking. Garnish with parsley and serve.