In a medium saucepan, heat 3 tablespoons of olive oil over medium heat.
Once the oil is hot, add 3 tablespoons of all-purpose flour. Whisk continuously for about 1-2 minutes.
Next, sprinkle in 1 teaspoon of ground coriander, 1/2 teaspoon of ground cumin, 1 teaspoon of smoked paprika, and 1/4 teaspoon of ground chipotle peppers. Continue whisking for another minute.
Slowly add 1 cup of vegetable stock while whisking to prevent any lumps. Keep stirring until the mixture is smooth and begins to thicken.
Add 2 tablespoons of tomato paste to the sauce. Whisk until fully incorporated.
Add 2 tablespoons of lime juice, and season with salt and pepper to taste. Let the sauce simmer for about 5-10 minutes, stirring occasionally.
If desired, chop some fresh cilantro and sprinkle it over the sauce before serving.