Bishop cuts canon's cash in Crimea (5)
I believe the answer is:
ruble
'cash in crimea' is the definition.
(currency of Russia - Crimea is part of Russia)
'bishop cuts canon's' is the wordplay.
'bishop' becomes 'B' (abbreviation used in chess).
'cuts' means one lot of letters goes inside another (some letters cut their way into other letters).
'canon' becomes 'rule' (canon can mean a rule or principle).
'b' placed inside 'rule' is 'RUBLE'.
(Other definitions for ruble that I've seen before include "Russian currency" , "ready in Russia" , "Unit of money in Russia" .)