In a large soup pot over medium-high heat, combine the olive oil, onion, and red pepper. Cook, stirring continuously, until the onions begin to turn translucent, 2-3 minutes. Add the garlic, chili powder, and cumin. Stir to combine and cook until the spices become fragrant, about 1 minute.

Add the tomato juice and diced tomatoes (including the liquid in the cans of tomatoes) and stir to combine. Bring the soup to a low boil and reduce heat to a simmer. Add the kidney beans and sweet corn. Simmer for 5 minutes. Add salt and pepper, to taste.

Serve immediately, with sour cream and a sprig of cilantro.