Peel the potatoes and slice into 1-inch cubes. Transfer the diced potatoes to a large pot and cover with salted cold water.
Bring water to a boil over medium heat. Cook the potatoes for 15 minutes or until tender. Drain well, then set aside to cool.
Boil the eggs in water for 10 minutes. Transfer the eggs to a bowl of ice water, peel them, and finely dice them.
Combine the mayonnaise, mustard, olive oil, smoked paprika, and dill in a bowl. Season with a pinch of salt and black pepper, then mix well.