On a 6-quart Instant Pot, select Normal/Medium Sauté. Heat the oil until shimmering, then add the onion and ½ teaspoon each salt and pepper. Cook, stirring occasionally, until softened and lightly browned, 7 to 10 minutes. Add the garlic, cumin, olives, raisins and capers, then cook, stirring, until fragrant, 30 to 60 seconds. Stir in the tomatoes.
Using tongs, transfer the chicken to a serving dish. Stir the lime juice into the pot, select Normal/Medium Sauté and bring to a simmer. Cook, stirring often, until the braising liquid is slightly thickened, about 5 minutes. Taste and season with salt and pepper, then pour the mixture over the chicken and sprinkle with the parsley.