Rioja Braised Lamb Shanks with Chorizo and Garlic

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2 tablespoons vegetable oil

4 lamb shanks

Kosher salt

Freshly ground black pepper

1 1/2 cups Rioja or 1 1/2 cups good quality beef stock

1 cup good quality balsamic vinegar

1 bulb garlic, cut in half horizontally

2 bay leaves

1 teaspoon paprika, or to taste

1/2 teaspoon whole black peppercorns

4 sprigs fresh rosemary

1 1/4 cups good quality beef stock

One 4-ounce piece chorizo

1 large red onion, cut into wedges

2 carrots, chopped

1 tablespoon honey