Run from Conservative European swindle (6)
I believe the answer is:
fleece
'swindle' is the definition.
(I've seen this in another clue)
'run from conservative european' is the wordplay.
'run from' becomes 'flee' (to flee something is to run away from it).
'conservative' becomes 'C' (UK political abbreviation).
'european' becomes 'E' (abbreviation e.g. EU).
'flee'+'c'+'e'='FLEECE'
(Other definitions for fleece that I've seen before include "Cheat" , "Con" , "Plunder; charge (someone) exorbitantly" , "What shearer has to" , "Wool coat" .)