The first-order metal-insulator transition (MIT) in paramagnetic V2O3 is studied within the ab-initio scheme LDA+DMFT, which merges the local density approximation (LDA) with dynamical mean field theory (DMFT). With a fixed value of the Coulomb U = 6.0 eV , we show how the abrupt pressure driven MIT is understood in a new picture: pressure-induced decrease of the trigonal distortion within the strong correlation scenario (which is not obtained within LDA). We find good quantitative agreement with (i) switch of the orbital occupation of (a1g, e π g1 , e π g2 ) and the spin state S = 1 across the MIT, (ii) thermodynamics and dc resistivity, and (iii) the one-electron spectral function, within this new scenario.PACS numbers: 71.28+d,71.30+h,72.10-dThe spectacular metal-insulator transition (MIT) in the paramagnetic (P) state in V 2 O 3 has long been considered as a classic, and by now almost a textbook version of correlation-driven MIT in a one-band correlated system described by the one-band Hubbard model [1]. This conventional wisdom has been recently challenged by new experiments, clearly showing the coupled spinorbital character of the system, and necessitating a revision in terms of a multiband picture.The conventionally accepted picture rested upon the following argument. In the high-T phase, V 2 O 3 exists in the corundum structure, and with a 3d 2 state (V 3+ ), the two e σ g orbitals are empty, while the triply degenerate t 2g orbitals are filled by two electrons. This triple degeneracy is lifted by a small trigonal distortion, leading to a singly occupied a 1g orbital oriented along the c-axis, and doubly degenerate planar e π g orbitals, occupied by the second electron. Castellani et al. [2] proposed that strong covalent effects lead to a bonding singlet a 1g state involving two V ions along the c-axis. The remaining electron in the two-fold degenerate e π g orbitals gives rise to a S = 1/2 model with orbital degeneracy. This inspired development of theoretical techniques, culminating in the dynamical mean field theory (DMFT) [3], leading to considerable improvement in our understanding of the MIT. Within the basic picture [2], Rozenberg et al.[4] used DMFT for one-and two-orbital Hubbard models with Bethe density-of-states to study the MIT in V 2 O 3 .Recent polarized X-ray scattering results of Park et al.[5] require, however, an interpretation in terms of a spin S = 1 at each V site, with a mixed orbital e π g a 1g : e π g e π g = x : (1 − x) configuration. An exciting conclusion from these results is that the above ratio changes its value abruptly at the MIT, forcing one to abandon the one-band Hubbard model to describe V 2 O 3 . Notice that this implies an important role for the trigonal splitting, since the lower-lying orbital will be more "localized" when local Coulomb interactions are switched on. This raises questions concerning a possible link between the orbital "switching" and the drastic change in the electronic state, and to a possible common underlying origin.The high-spin ground state res...