In a bowl, combine the raisins and the sparkling wine, allowing the raisins to soak for 30 minutes. After, drain the raisins and reserve the sparkling wine for later use.
Heat a pot over medium heat, adding a drizzle of olive oil and the sliced onion. Sauté until caramelized.
Next, add the minced garlic and sauté for an additional minute. Deglaze the pot with the reserved sparkling wine, allowing the alcohol to evaporate.
Meanwhile, fill a deep pot with water and bring it to a simmer. Add a splash of olive oil, salt, and pepper, then introduce the rice. Cook for about 7 minutes until tender.
In the pot with the sautéed onions, add the cinnamon and cloves, stirring to combine.
Drain the rice and add it to the onion mixture. Season with salt and pepper, then incorporate the raisins and chopped cashews. Stir until everything is heated through.
Transfer the mixture to a 20 cm (8 inch) bundt pan, pressing it down gently with a spoon. Invert onto a serving plate.
Serve the festive rice garnished with additional raisins and cashews. Enjoy!