Set Instant Pot to "saute' setting. Add vegetable oil, onions and garlic. Saute until garlic and onions are fragrant. Do not brown or burn. Scrap the bottom of the pan to remove any brown bits stuck to it.
Add water, chicken bouillon, diced tomatoes, tomato sauce, rice and salt to Instant Pot.
Stir well and scrap the bottom of the pot to make sure nothing is stuck to it (important to ensure "burn notice" doesn't appear when pressure cooking).
Cover lid and move valve to sealing position. Pressure cook on high for 7 minutes. (Build in time for it to build and release pressure)
When pressure cooking is completed, release pressure naturally for 10 minutes, and then move valve to venting position and release pressure manually.
Open lid and stir to fluff rice
Garnish with cilantro and serve! Enjoy!
Notes
To avoid 'burn notice' warning on Instant Pot, scrap the bottom of Instant Pot after adding water and before pressure cooking.