Place the rice into a fine mesh sieve or colander, and rinse it under cold water until the water runs clear to remove excess starch.
Heat the olive oil or butter in a large saucepan over medium heat. Add the minced garlic (optional) and cook it for about 1 minute or until the garlic is fragrant.
Add the rinsed and drained rice to the saucepan. Cook the rice for 2 to 3 minutes to toast, stirring frequently, until the rice is lightly golden in color.
Pour the water or chicken broth into the pot, and add the salt. Bring the ingredients to a boil, and then reduce the heat to low, cover, and simmer for 15 to 20 minutes, or until the rice is cooked through and the liquid is absorbed.
Once the rice is cooked, remove the saucepan from heat and let it sit, covered, for 5 minutes.
Fluff the rice with a fork to separate the grains. Then add the lime juice, lemon juice, and chopped cilantro to the saucepan. Stir well to combine the ingredients.
Taste and adjust the seasonings if necessary. Serve warm cilantro lime rice as a side dish or as a flavorful base for your favorite dishes.