Select the Saute function on the Instant Pot.
Add the olive oil to the Instant Pot.
Heat for 1 minute.
Add rice.
Stir frequently for 2-3 minutes, or until the rice is toasted.
Be careful not to burn.
Add the onion and garlic.
Saute for 1 minute, or until onion is translucent.
Add chicken broth, tomato sauce, chicken bouillon, and cumin.
Stir to combine.
Carefully place the lid on the Instant Pot.
Turn venting knob to “SEALING.”
Pressure cook on high pressure for 4 minutes.
When the cycle ends, allow the pressure to release naturally for 15 minutes. Do not open the instant pot. Just leave it alone.
After 15 minutes, move the steam release valve to the venting position to release any remaining steam.
When the pin drops down, open the Instant Pot lid carefully.
Use a fork to fluff rice and serve.