Heat olive oil in a large pot over medium heat. Add finely chopped onion and sauté until soft, about 5-6 minutes. Stir in garlic for the last 30 seconds.

Add tomato paste, stirring to combine with the onions and garlic. Cook for about 1 minute.

Pour in fire-roasted diced tomatoes and broth, stirring to mix. Add sugar or honey, salt, pepper, paprika, basil, and oregano. Bring to boil, then simmer for 15-20 minutes.

Using an immersion blender, puree the soup until smooth. Alternatively, blend in batches in a countertop blender.

Stir in heavy cream or coconut milk. Adjust seasonings as needed, and serve hot, garnished with fresh basil or parsley.