Heat the olive oil in a medium pot over medium heat. Add the onion and cook for about 5 minutes or until translucent. Add the garlic and cook for 2 minutes more.
Add the tomatoes and red pepper and cook for 5 minutes. Add the water, vegetable bouillon tablet, basil, oregano, cumin, salt and pepper. Simmer for 25 to 30 minutes over medium-low heat.
Transfer the soup to a blender or use an immersion blender and puree until smooth. Transfer the soup back to the pot and bring to a boil. Remove from the stove and add the heavy cream. Season with salt and pepper if necessary and serve hot.