Preheat the oven to 425 degrees. Place the red bell peppers on a baking sheet and roast for 25 minutes until the skins blister. Let them cool, then remove the stems, seeds, and skins.
Heat the olive oil in a large pot over medium heat. Add the chopped onion and cook for 5 minutes until soft. Stir in the minced garlic and smoked paprika and cook for 1 minute more.
Pour in the vegetable broth and add the roasted peppers, soaked cashews, salt, and black pepper. Bring the mixture to a simmer and cook for 10 minutes.
Transfer the soup to a blender in batches and blend until completely smooth. Return the soup to the pot and heat through for a few minutes.
Ladle into bowls and top with chopped fresh parsley before serving.