Heat the olive oil in a large saucepan over medium-low heat.
Cook the onion and garlic, stirring frequently, for about four minutes, or until they begin to soften.
Add the red bell peppers, cover, and cook, stirring occasionally for ten to fifteen minutes until softened.
Use a slotted spoon to remove the onions and bell peppers to a separate dish and reserve the olive oil.
Place the toasted walnuts, spices, and lemon juice in a food processor or blender and process until the mixture is smooth.
With the motor running, gradually pour in the reserved olive oil.
Add the onion and bell pepper mixture, and process until the mixture reaches your desired consistency.
Taste and adjust lemon juice, oil, salt, and pepper as desired.
Transfer to a bowl and garnish with chopped wallets, olive oil, and parsley if desired.
Store the Muhammara in an airtight glass container in the refrigerator for up to one week.