Heat the oil in a saucepan over medium–high heat. Cook the vegetables and garlic, stirring often, for 4 minutes or until golden. Add the thyme, bay leaves and stock. Simmer for 15 minutes or until reduced by half. Add the veal jus and simmer for 15 minutes or until reduced by half. Whisk in the squid ink and simmer for 5 minutes or until the sauce is thick enough to coat the back of a spoon. Pass through a fine sieve. Set aside and keep warm.
This can be made 1 day in advance and stored in an airtight container in the fridge. Reheat before serving.
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