Add the olive oil or butter (or both) to the Instant Pot liner. Set the Instant Pot to Saute option to the Less level. Add the onion and saute for 1 minute. Add the garlic and saute for another minute.
Add all other ginger, turmeric, vegetables, tomatoes, and bay leaf ingredients, and stir.
Cover with water to the 1/2 way mark if using an 8-quart Instant Pot or up to the 2/3 mark if using a 6-quart Instant Pot.
Turn off the Saute option.
Put the lid on the Instant Pot and lock it into place.
Set the steam release knob on the lid to the Sealing position.
Set the Instant Pot to "Pressure Cook" or "Manual".
Set the pressure cook time to 15 minutes on high pressure.
When the pressure cooking is finished, do a "Quick Release" to vent the steam from the steam release knob by turning the knob to the Venting position. (Caution! The steam is very hot when it is released. In the video, I use a wooden spoon to turn the knob to keep a safe distance from the Instant Pot when releasing the steam. Follow the manufacturer's guidelines.)
Once the steam is released, and the pressure in the Instant Pot has returned to normal, open the lid. (Caution! Open the lid away from you so that the steam does not hit your face.)
Serve the soup, and if using, top the soup with chopped parsley and sliced green onions. Enjoy!