Rinse the rice twice under running water and let it soak for 10 minute.
Heat the oil in a heavy bottom pan. Add the cardamoms, cloves and peppercorns and cook, stirring for 1 minute. Add the rice and stir-fry for 3 minutes.
Add the salt, saffron threads, and water to the rice mixture and reduce the heat. Cover the pan and let simmer over low heat for 20 minutes, or until all water has evaporated. Transfer the rice to serving dish. Serve hot.