Heat the vegetable oil in a large skillet over medium-high heat.
Add the lamb and cook until browned on all sides, about 5 minutes.
Season with saffron, salt and pepper to taste; stir in all but 1/4 cup of the onion and pour in the water.
Bring to boil, then cover, reduce heat to medium-low and simmer until the lamb is tender, about 15 minutes.
Uncover the skillet, stir in the butter and allow the sauce reduce 5 to 10 minutes to desired consistency.
Season to taste with salt and pepper then pour into serving dish. Sprinkle with the remaining chopped onions and parsley.
Garnish with lemon wedges to serve.
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