Preheat oven to 325 degrees. Heat oil in a large roasting pan over medium-high heat. Season the beef ribs generously with salt and pepper.
Sear ribs in roasting pan until well browned on all sides, about 15 minutes. Remove ribs and set aside. Wipe out roasting pan, return the ribs, and cover with parchment-lined foil. Transfer ribs to oven and roast until meat is tender and falling off the bone, about 4 hours.
When meat is cool enough to handle, cut off the bone, remove cartilage, turn the meat over, and cut into 1 1/2-inch slices. Place slices on the bone and garnish with horseradish and olives. Serve immediately with lemon wedges.