1. Heat Pressure Cooker on high, add oil and brown lamb in 2 batches. Set meat aside.
2. Reduce heat, add shallots and cook, covered, for 3 minutes on medium.
3. Add the remaining ingredients and cook, stirring occasionally, for 5 minutes.
4. Pour contents into bowl.
5. Insert rack into Pressure Cooker and place shanks onto rack. Pour sauce over the shanks
6. Add lid. Close and lock Pressure Cooker. Bring to pressure on high heat using setting 2, approximately 2-3 minutes (Pressure is reached when the red Pressure Indicator has risen).
7. Reduce heat to low and cook for 45 minutes. If you can wait 1 hour, even better
8. Release pressure. Remove lid and extract lamb shanks by lifting it out on rack.