Heat oil in a heavy, wide pot over medium-high heat; add onions, carrots and peppers and sauté until tender, about 2-3 minutes.
Stir in rice and cranberries and heat through, about 1 minute, stirring often.
Pour in broth and soy sauce and bring to a boil. Reduce heat to very low, cover the pot tightly and cook for 45-60 minutes or until rice is tender and all liquid is absorbed.
Remove pot from heat and let rest at least 15 minutes before serving.
Just before serving, gently stir in peas and scallions and keep warm.
Note: Serve with grilled vegetables, grilled chicken, or roasted meats, if desired.