In a saucepan, heat olive oil over medium heat. Add chopped onion and sauté until translucent, about 5 minutes.

Add minced garlic and cook for an additional minute until fragrant.

Stir in crushed tomatoes, vegetable broth, sugar, salt, and black pepper. Bring to a simmer.

Reduce heat and let the soup simmer for 20 minutes.

Using an immersion blender, blend the soup until smooth. Alternatively, carefully transfer to a blender and blend in batches.

Stir in the heavy cream and heat through. Adjust seasoning if necessary.

Serve hot, garnished with fresh basil.