Step 1: Char peppers over gas flame (if you don't have a gas stove I use an outside grill) or in broiler until blackened on all sides. Wrap in paper bag and let stand for 10 minutes to steam. Halve the peppers; peel and seed. If necessary rinse and pat dry.
Step 2: Cut peppers into 1 inch wide strips and transfer to a bowl. Add oil and vinegar and let stand for 4 hours.
Step 3: Just before serving add the basil and toss to coat.
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