Heat oil in a medium saucepan over medium-high heat. Add onion, and sauté for 4 minutes. Add sugar and the next 4 ingredients (through cranberries); bring to a boil. Reduce heat, and simmer for 8 minutes or until cranberries pop. Remove from heat, and stir in orange rind.
Combine dried cherries and cherry juice in a small saucepan over medium-high heat; bring to a boil. Remove from heat; let stand 10 minutes. Drain. Add drained cherries to cranberry sauce. Serve chilled or at room temperature.