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Rival let tavern that stocks European port (8)

Ross

I believe the answer is:

valletta

I'm a little stuck... Click here to teach me more about this clue!

'european port' is the definition.
The definition and answer can be both locations as well as being singular nouns.
Perhaps they are linked in a way I don't understand?

'rival let tavern that stocks' is the wordplay.
'that stocks' says the answer is hidden in the clue.
'VALLETTA' can be found hidden inside 'rival let tavern'.

Can you help me to learn more?

(Other definitions for valletta that I've seen before include "Malta's capital" , "Capital of Malta" , "Hard biscuit" , "my neighbouring capital" , "Maltese capital" .)

I've seen this clue in The Irish Times.
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