In a sauce pan, heat oil over medium-high heat
Saute onions for 2 minutes.
Mix in garlic, mustard and chili powder and continue cooking 1 minute.
Stir in tomato paste and cook 1 more minute.
Add cranberry sauce, vinegar and molasses and bring to a simmer.
Whisk often until mixture becomes smooth.
Lower heat and simmer 15-20 minutes or until mixture reduces and thickens.
Add water to mixture if it gets too thick.
Remove from heat and cool to room temperature.
Place in a covered container and refrigerate until ready to use.
Reheat before using.