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In a small bowl, combine parsley, 4 tablespoons oil, basil, oregano, 1 to 2 teaspoons black pepper and 1/2 teaspoon salt. Rub half the mixture on both sides of steaks. Cover; refrigerate steaks 1 hour. Meanwhile, brush pepper rings with remaining 1 tablespoon oil. Season with remaining salt and pepper.
For a charcoal grill, grill steaks on the rack of an uncovered grill to desired doneness, turning once. (Allow 15 to 19 minutes for medium-rare (145°F) or 18 to 23 minutes for medium (160°F)). Grill pepper rings next to the steaks during the last 8 to 10 minutes of grilling, or until peppers are tender, turning once. Remove steaks from grill and sprinkle with remaining herb mixture. Cover and let stand for 10 minutes. (For a gas grill, preheat grill. Reduce heat to medium. Place steaks on grill rack over heat. Cover and grill as above.)
To serve slice steaks across the grain. Serve with bell pepper rings.