What does the cryptic crossword clue "Former American president supports Greek to calm oil producer (10)" mean?

The wordplay uses a charade (building blocks). GR (synonym="=Greek") + EASE (synonym="=calm, relieve") + BUSH (synonym="=former American president, i.e. George Bush or George W Bush") = GREASEBUSH The answer is GREASEBUSH.

Former American president supports Greek to calm oil producer (10)

Independent Cryptic #11610 | 13 Down | 2023-12-27 flower

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