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Prepare the Tomato Soup:
In a large pot, heat the olive oil over medium heat. Add the chopped onion and cook until soft and translucent, about 5-7 minutes.
Add the minced garlic and chopped carrot. Cook for another 3-4 minutes until the vegetables are tender.
Stir in the tomato paste and cook for 1-2 minutes.
Add the whole peeled tomatoes (with their juice), vegetable broth, sugar, dried basil, and dried oregano. Bring the mixture to a boil, then reduce the heat and let it simmer for 20-25 minutes.
Use an immersion blender to blend the soup until smooth. Alternatively, you can blend the soup in batches using a regular blender.
Season with salt and pepper to taste. Keep the soup warm on low heat.
Prepare the Cheese and Onion Toast:
Preheat your oven’s broiler or a toaster oven.
Spread the softened butter on one side of each slice of bread.
Place the buttered slices on a baking sheet, buttered side up. Top with the thinly sliced onion and then sprinkle the shredded cheddar and Monterey Jack cheeses evenly over each slice.
Broil until the cheese is melted and bubbly, about 3-5 minutes. Keep a close eye on the toast to prevent burning.
Serve:
Ladle the hot tomato soup into bowls.
Serve each bowl of soup with a slice of cheese and onion toast on the side.
Garnish the soup with fresh basil leaves.
