Heat the vegetable oil and sauté ham or pancetta over medium heat, until the meat is crispy, about 5 to 7 minutes.
Add the onion and cook about 4 minutes until softened.
Add the tomato paste, garlic, cumin, cayenne, and paprika, and stir until evenly incorporated.
Sprinkle the flour over the mixture and cook, stirring constantly, and a coating forms on the bottom of the pan, about 1-2 minutes.
Add the wine and cook, until nearly evaporated, about 30 seconds.
Add the clam juice, bouillon cube, and chipotle and whisk, scraping up any browned bits from the bottom of the pan.
Add the cream, whisk to combine, and cook about 2 mins.
Remove from the heat and set aside.