1. Season the lamb shanks with salt and pepper. Pour the olive oil into a large pot and sauté the shanks until well browned on all sides, about 10 minutes.
2. With a knife, score the small potatoes in 2 places and add them to the pot. Sauté for 5 - 6 minutes.
3. Add the onions and continue sautéing for 3 - 4 minutes. Add the whole garlic cloves and sauté for another 1 minute. Stir in the tomato paste at the bottom of the pot, allowing it to sauté and release its aromas.
4. Pour in the red wine and Commandaria, and let the alcohol evaporate, about 10 minutes. Transfer the contents of the pot to a baking dish and add the bay leaves, thyme, rosemary, the remaining salt and pepper, and the water in which you've dissolved the stock cube.
5. Cover the baking dish with its lid or with parchment paper and aluminum foil, and bake for 2 hours in a preheated oven at 180°C (fan-assisted). Uncover the dish and continue baking for another 30 minutes, until the food is nicely browned.