In a large pot, heat the olive oil over medium heat. Add the chopped onion and cook until it’s soft and translucent, about 5 minutes.
Add the minced garlic and cook for another minute until fragrant.
Pour in the crushed tomatoes and vegetable broth. Stir well to combine.
Bring the soup to a simmer and let it cook for about 20 minutes, allowing the flavors to meld.
Stir in the chopped basil, sugar (if using), salt, and pepper. Cook for another 5 minutes.
Remove the pot from heat. Using an immersion blender, puree the soup until smooth. Alternatively, you can use a regular blender, blending the soup in batches.
Return the pot to low heat and stir in the heavy cream. Warm the soup through, but do not let it boil.
Taste and adjust seasoning as needed.
Serve hot, garnished with extra basil and grated Parmesan cheese if desired.