Add the olive oil to a medium pot (preferably with a lid) over medium heat. Add the onion, the raisins, the pinenuts, and the spices. Cook, stirring constantly, until the onion is soft (approximately 5 minutes). Reduce heat to medium-low if the mixture starts to burn.
Add the rice and mix well to combine. Sauté for 15 minutes, stirring continuously. Reduce heat to medium-low if the mixture starts to burn.
Pour in gradually the water (or chicken or vegetable broth). Please be careful not to burn yourself. Season with salt, and pepper.
Cover the pan with a tight-fitting lid and reduce heat to low. Cook the rice for about 10 minutes, until the rice is cooked and the liquid is absorbed. Stir constantly.
When the liquid is absorbed taste the rice. If it isn’t ready, add a little bit of hot water. Stir well. Repeat until the rice is ready up to your liking.
Remove the rice from the heat and allow it to rest, covered, for at least 5 minutes before removing the lid and fluffing with a fork. Season to taste (if needed).
If you use a cinnamon stick, allspice berries, and whole cloves (instead of their ground type) fish them out.
See notes for serving (optional).