European millions getting iron ruler (7)
I believe the answer is:
empress
'ruler' is the definition.
(empress is a kind of ruler)
'european millions getting iron' is the wordplay.
'european' becomes 'e' (abbreviation e.g. EU).
'millions' becomes 'm' (abbreviation).
'getting' is a charade indicator (letters next to each other).
'iron' becomes 'press' (I've seen this before).
'e'+'m'+'press'='EMPRESS'
(Other definitions for empress that I've seen before include "Delilah?" , "Female sovereign" , "She rules a vast realm" , "1 across was from 1877" , "Josephine, for instance" .)