Preheat oven to 400 degrees. Toast both seeds in a small skillet over medium-high heat until fragrant, about 1 minute. Let cool. Transfer to a resealable plastic bag and crush with a rolling pin.
Season lamb with salt and pepper. Heat a large ovenproof skillet over medium-high heat. Swirl in oil. Sear lamb until golden brown on all sides, about 10 minutes. Transfer to a platter.
Pour off fat from pan; wipe clean. Pat seeds all over lamb. Return to pan. Roast in oven until a thermometer inserted in thickest part (avoiding bone) registers 130 degrees for medium-rare, 18 to 20 minutes. Transfer to a cutting board; let rest 10 minutes before slicing between bones into chops and serving with rice.