Combine the parsley, mint, crushed red pepper, garlic, cashews, ¼ cup oil, vinegar, and water in a small blender or food processor. Pulse to combine, and taste: add some salt if you'd like. Add more water if the mixture is very thick - it should be loose enough to stir easily.

Preheat a large skillet to medium-high heat with 1 tablespoon each butter and olive oil. Cut the lamb in between each of the rib bones to make small chops, and sprinkle with the salt.

Sear the lamb for 3-5 minutes on each side, according to your temperature preference, flipping once. 3 minutes on each side will yield rare lamb.

While the lamb cooks, add the pesto to a small skillet with the remaining butter, and turn to medium-low. Let the pesto warm gently and stir in the butter.

When the lamb is cooked, drizzle with the pesto and serve extra on the side for dipping. Eat with your fingers or as part of your favorite meal!