Set your Instant Pot to saute and add the olive oil.
Once the oil is hot, add the onion, garlic, and dried spices.
Cook for a couple of minutes until the onions become translucent.
Press cancel on your pot to stop the saute function.
Add all remaining ingredients (EXCEPT rice and water) to the Instant Pot Insert.
Place your rice and water in your stainless pot in pot bowl, and onto the long legged trivet.
Put the lid on the pot, set to sealing, and select manual for 4 minutes.
Let the pot naturally depressurize for 10 minutes when the timer beeps, and then quick release the remaining pressure.
Serve the stew over rice.