Loan oligarch settled with whisky, for example (5,7)

I believe the answer is:

grain alcohol

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'whisky for example' is the definition.
I can't judge whether this defines the answer.

'loan oligarch settled' is the wordplay.
'settled' indicates an anagram.
'loan'+'oligarch'='loanoligarch'
'loanoligarch' anagrammed gives 'GRAIN ALCOHOL'.

'with' is the link.

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I've seen this clue in The Independent.

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