Borscht is traditionally served both hot and cold. Leftovers are great. Slideshow: More Russian Recipes
In a medium pot, heat the butter over medium high heat until hot, then stir in the onion, garlic, caraway seed, 3/4 teaspoon salt and 1/2 teaspoon pepper and cook, stirring occasionally, until golden, about 6 minutes.
Reserve the beet pickling liquid and cut the beats into matchsticks.
Stir the beets, their liquid, the beefy stock and water into the pot and bring to a simmer. Simmer 10 minutes, the season with salt and pepper to taste. Serve the borscht dolloped with the sour cream and sprinkled with the dill.