In a dry skillet over medium heat, toast the caraway seeds until fragrant, about 2-3 minutes. Allow to cool slightly, then crush them coarsely using a mortar and pestle or the back of a heavy pan.

In a small bowl, combine the crushed caraway seeds, smoked paprika, salt, and black pepper.

Pat the beef strip loin dry with paper towels. Rub the olive oil all over the beef, then generously coat with the caraway and paprika mixture, pressing it into the meat. Let it marinate at room temperature for about 30 minutes.

Preheat your oven to 400°F (200°C). Heat a large oven-safe skillet over medium-high heat. Once hot, add the beef strip loin and sear for about 4-5 minutes on each side, until a deep brown crust forms.

Transfer the skillet to the preheated oven and roast the beef for 15-20 minutes, or until it reaches your desired doneness (130°F for medium-rare). Use an instant-read thermometer for accuracy.

While the beef is roasting, heat another skillet over medium heat. Add the sliced shallots and 2 tablespoons of butter. Cook, stirring occasionally, until the shallots are golden and caramelized, about 10-15 minutes. Season with a pinch of salt and set aside.

In a small bowl, combine the remaining 2 tablespoons of butter with the chopped parsley, thyme, and chives. Mix well and set aside.

Once the beef is done, remove it from the oven and let it rest for 10 minutes. This allows the juices to redistribute. Slice the beef against the grain and serve topped with caramelized shallots and a dollop of herb butter.