Heat 1 tbsp olive oil in a small saucepan over medium heat until the oil starts to shimmer, about 2 minutes. Add1 medium shallot, finely diced and 2 whole anchovies and stir to combine. Cook until the shallots soften and the anchovies have been dissolved, about 5 minutes.
Add 1 tsp Asian chili sauce (hot) and 3 tbsp red wine vinegar, stir, then increase heat to medium high and cook until the vinegar has been sligthly reduced, about 2 minutes.
Add 3-4 tbsp olive oil and stir to combine and allow to warm.