Heat the olive oil and butter in a medium skillet over medium heat. Once the butter has melted, add the chopped shallot and garlic. Sauté for 2-3 minutes until softened and fragrant.

Add the crushed peppercorns to the skillet and cook for an additional 1-2 minutes, stirring occasionally to release their flavor.

Pour in the broth and bring to a simmer. Let it cook for 3-4 minutes, allowing it to reduce slightly.

Stir in the heavy cream, soy sauce, and Dijon mustard. Cook for another 2-3 minutes, stirring occasionally, until the sauce thickens to your desired consistency.

Taste and season with salt as needed.

Serve the sauce over your favorite steak, chicken, or pasta.