In a large pot, heat olive oil over medium heat. Add chopped onion and cook until translucent, about 5 minutes.

Add minced garlic and cook for an additional minute until fragrant.

Stir in the chopped tomatoes, vegetable broth, sugar, salt, and black pepper. Bring to a boil.

Reduce heat and let the soup simmer for 20 minutes, allowing the flavors to meld.

Remove from heat and use an immersion blender to puree the soup until smooth. Alternatively, transfer in batches to a blender.

If desired, stir in heavy cream for added richness. Adjust seasoning to taste.

Serve hot, garnished with fresh basil.