Buy back embarrassed leaders in European export market (6)
I believe the answer is:
redeem
'buy back' is the definition.
(synonyms)
'embarrassed leaders in european export market' is the wordplay.
'embarrassed' becomes 'red' (someone may blush or go red when embarrassed).
'leaders in' says to take the initial letters.
The first letters of 'european export market' is 'eem'.
'red'+'eem'='REDEEM'
(Other definitions for redeem that I've seen before include "Claim back" , "Free - retrieve" , "Retrieve from hell or pawn" , "Avoid pawn loss" , "Pay off loans or promissory notes" .)