Roast the red bell peppers whole at 220°C (430°F) for 25 minutes, until charred and soft.
Once cooled, peel off the skins and remove seeds.
Soften the dried chilies by soaking them in boiling water for 30 minutes. Remove stems and seeds for a milder flavor.
Grind the cumin seeds, if using whole, after dry-toasting them in a pan until fragrant.
Combine all ingredients in a blender: roasted peppers, soaked chilies, tomato paste, garlic, spices, lemon juice, and a splash of olive oil. Blend until smooth. Add more oil as needed for a creamy consistency.
Transfer to a small jar and cover the top with a layer of olive oil.
Store in the fridge for up to 2 days, or freeze in small portions for longer use.